Prelims Level
Mains Level
Prelims Syllabus : Economy - Export Mains Syllabus : Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment

In News:

  • India has replaced Japan as the world’s second-largest steel producing country, while China is the largest producer of crude steel, accounting for more than 51 percent of production, according to World Steel Association.

Explained:

  • The global steel body, in its latest report said, China’s crude steel output jumped 6.6 percent to 928.3 million tonnes in 2018 from 870.9 MT in 2017.
  • China’s share increased from 50.3 percent in 2017 to 51.3 percent in 2018. “India’s crude steel production in 2018 was at 106.5 MT, up 4.9 percent from 101.5 MT in 2017, meaning India has replaced Japan as the world’s second-largest steel producing country. Japan produced 104.3 MT in 2018, down 0.3 percent compared to 2017
  • Global crude steel production reached 1,808.6 MT in 2018 from 1,729.8 MT in 2017, a rise of 4.6 percent
  • Others in the top 10 steel producing countries include the U.S., at the fourth position as the country produced 86.7 MT of crude steel in 2018, South Korea (72.5 MT, fifth place), Russia (71.7 MT, sixth), Germany (42.4 MT, seventh), Turkey (37.3 MT, eight), Brazil (34.7 MT, ninth) and Iran (25 MT, tenth).
  • Among other countries, Italy produced5 MT of crude steel in 2018, France (15.4 MT) and Spain (14.3 MT), Ukraine (21.1 MT).

World Steel Association:

  • The World Steel Association (worldsteel) is a non-profit organisation with headquarters in Brussels, Belgium
  • The World Steel Association is one of the largest industry associations in the world. Its members represent around 85 percent of the world’s steel production, including over 160 steel producers with nine of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes.

Indian Steel plants:

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