InvestorQ : Is it true that India’s steel production is falling while China’s steel production is rising? Why is it happening?
NISHA Nayak made post

Is it true that India’s steel production is falling while China’s steel production is rising? Why is it happening?

Answer
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6 months ago


That is correct. Despite being the world’s second largest steel producer, India has seen its steel output shrink by 3.2% to 9.288 million tonnes (MT) for January 2020. During the same month, China recorded an increase of 7.2% to 84.3 MT. The other major producer, Japan, saw its steel output for January fall by 1.3% to 8.20 MT. Just a couple of years back, India had overtaken Japan to become the second largest steel producer in the world. Out of the total global crude steel production of 154 MT, China alone accounts for 55% of the output. Compression in steel production in India is due to raw material shortages as well as due to the competition of cheaper steel from China, Japan, South Korea and Russia. India has also been facing a lot of steel dumping from China.