India's crude steel production dropped by a whopping 65% in April
New Delhi: Due to the corona virus pandemic, the crude steel production in India dropped by a whopping 65 percent to just 3.13 million tonnes (MT) in April, according to a report by the World Steel Association. The country had a production of 9.02 MT of crude steel in April 2019.
India clocked 14 percent drop in steel output at 8.65 MT in the month of March 2020. In March 2019, the production was 10.04 MT. Even the global steel production fell about 13 percent to just 137.09 MT in April 2020 as against 157.67 MT in April 2019.
However, the World Steel Association has clarified that April figures are estimates and may be revised next month.
Interestingly, even China witnessed a decline of a bout 1.7 percent in its steel production in March 2020. The total production of steel in march 2020 was 78.97 MT. However, the production recovered in April. China clocked production of 85.03 MT in April, an increase of about 0.2 percent as compared to April 2019. China is a major producer of steel in the world.
South Korea saw its steel production go down by about 8.4 percent in April 2020 at 5.50 MT as against 6 MT in April 2019. Its neighbour Japan witnessed 23 percent lower output at 6.61 MT of steel in April 2020 as compared to 8.64 MT in April 2019.
USA saw its steel production go down by about 32 percent to 4.96 MT in April 2020 as compared to 7.35 MT in April 2019.
Germany has a production of3 MT of crude steel in April 2020, down by about 10.7 percent from April 2019. Italy saw its production shrink by 30.7 percent at 1.35 MT. France saw its production curtailed by about 37.9 percent at 0.80 MT.