India's crude steel production rises 9.4% in August 2016

India's crude steel production rose 9.4 percent in August 2016 as compared to the corresponding month in the previous year. The country produced 8.1 million tonnes of crude steel last month. 

China's produced 68.6 million tonnes of crude steel in August 2016, which increased 3 percent when compared to the same month last year, according to the data compiled by World Steel Association.

During the same month, Japan produced 8.9 million tonnes of crude steel, which is a 1.5 percent increase, when compared to the corresponding month last year. South Korea produced 5.9 million tonnes of crude steel last month, which rose 1.8 percent since the same time last year.

"Germany produced 3.5 million tonnes of crude steel in August 2016, an increase of 2.4 percent compared to August 2015. Italy produced 1.1 million tonnes of crude steel, up by 7.4 percent on August 2015," World Steel Association said in a statement.

Countries where steel production declined

About other steel producing countries, Spain produced 1 million tonnes of crude steel in August, which decreased about 118 percent since August 2015. Russia produced 5.9 million tonnes of crude steel in the same month, which fell 1.9 percent since the corresponding month last year.

"The United States produced 6.7 million tonnes of crude steel in August 2016, a decrease of 3.4 percent compared to August 2015. Brazil's crude steel production for August 2016 was 2.7 million tonnes, down 1.1 percent on August 2015," World Steel Association said.

Overall, world crude steel production for the 66 countries, which report to the World Steel Association (worldsteel), was 134.1 million tonnes for the month of August 2016, which is a rise of 1.9 percent since August 2015.

The World Steel Association is one of the largest industry associations in the world, and its members represent approximately 85 percent of the world's steel production.

Steel stocks

The Tata Steel stock was trading at Rs. 376.35 at around 3:25 p.m. on Thursday, up 1.91 percent from its previous close. Similarly, the Jindal Steel shares were trading at Rs. 82.15 apiece, up 1.67 percent from its previous close on the Bombay Stock Exchange.