According to the latest release from worldsteel, Indian crude steel production during January to November 2009 totaled 51.198 million tonnes up by Marley 1.4% YoY as compared to 50.467 million tonnes during January to November 2008.

Assuming that December 2009 production would equal that of November 2009, the total Indian crude steel output is seen close to 56 million tonnes up by about 1 million tonnes or 1.8% YoY.

 

 

In '000 tonnes

The rate of growth, albeit very low, reflects that Indian steel sector has weathered global crisis quite well as the global crude steel production in 2008 was 1.329 billion tonnes and is likely to touch 1.2 billion tonnes in 2009 down by 10% YoY.

Another point to be noted is that China, which produced 500.488 million tonnes of crude steel in 2008 is likely to produce 565 million tonnes of crude steel in 2009 up by 13% YoY. And if we take out Chinese contribution to growth in global crude steel production, the global numbers reflect much worse scenario in 2009.

Minus China, global crude steel output in 2009 is likely to be about 570 million tonnes down by more than 31% YoY as compared to 829 million tonnes in 2008. (STEEL GURU)