World Steel Association (Worldsteel) reported that India has replaced Japan as world's second largest steel producing country, while China is the largest producer of crude steel accounting for more than 51 per cent of production. (Source: ET)
In the latest report, the Global Steel body said that China's crude steel output jumped 6.6 per cent to 928.3 million tonnes (MT) in 2018 from 870.9 MT in 2017. China's share increased from 50.3 per cent in 2017 to 51.3 per cent in 2018. (Source: ET)
It was further said the global steel production has touched 1,808.6 MT in 2018 which is a significant jump from earlier 1,729.8 MT in 2017. The other steel producing countries on the list are:
World Steel Association, which has created the report, is currently one of the industry associations in the world. The members of the body incorporate eighty-five per cent of the worlds steel production, national and regional steel industry associations, and steel research institutes.