India's crude steel production rose 12.3 percent during October when compared to the corresponding month last year (2015). The country produced 8.3 million tonnes of crude steel in October.
According to data compiled by the World Steel Association, China produced 68.5 million tonnes of steel last month, which is up four percent when compared to October 2015. Japan produced nine million tonnes of crude steel in October 2016, which increased 0.6 percent when compared to the same month last year.
Similarly, Russia's crude steel production was 5.9 million tonnes, up by two percent over October 2015.
"Italy produced 2.1 million tonnes of crude steel, up by 11 percent over October 2015. Turkey's crude steel production for October 2016 was 3.0 Mt, up by 8.6 percent from October 2015," the World Steel Association said in a statement.
Countries where steel production declined
During the same month (October) European nation Spain produced 1.2 million tonnes of crude steel, down 10.5 percent year-on-year since October 2015. Similarly, Germany produced 3.5 million tonnes of crude steel in October 2016, which declined 3.7 percent since October 2015.
Ukraine produced 1.9 million tonnes of crude steel, a fall of six percent for October when compared to the same month during the last fiscal. However, 1.9 million tonnes of crude steel was produced by the United States last month, which was down 2.5 percent compared to October 2015.
"Brazil's crude steel production for October 2016 was 2.7 million tonnes, down by 8.8% from October 2015," WSA said.
Overall, world steel capacity utilisation ratio for 65 countries, which report to the WSA, was 69.6 percent last month.
Steel stocks
The Tata Steel stock closed at Rs 378.40 on Tuesday, up 1.84 percent from its previous close. Similarly, JSW Steel shares closed at Rs 1,636 apiece on the same day, up 0.70 percent from their previous close on the Bombay Stock Exchange.
