India overtook Japan in steel production

The World Steel Association's updated analysis of steel production by country showed India to overtake Japan as the world's second largest steel producing country. India's neighbor, China, continues to be the largest steel producer, accounting for over 51% of global production.

While global crude steel production grew 4.6% in 2018, reaching 1808.6 Mt) in 2018 from 1,729.8 Mt in 2017, China's steel production rose 6.6% to 928 , 3 million tons in 2018 (from 870.9 million tons in 2017).

India's steel production in 2018 reached 106.5 Mt, up 4.9% from 101.5 Mt in 2017.

Japan produced 104.3 million tonnes in 2018, down 0.3% from 2017 levels. The European Union produced 168.1 million tons of steel, down 0.3%.

Others in the top 10 steel producing countries included the US at number 4, which produced 86.7 million tonnes of steel, and South Korea in fifth place with 72.5 million tonnes.

India's steel history has been on a positive track for several years now, thanks to the country's rapid infrastructure growth, requiring materials such as steel, coal and cement. India's steel minister recently said at a meeting that the country is expected to hand over steel consumption to the US this year.

Minister Chaudhary Birender Singh, speaking in the fourth edition of India Steel 2019, noted that the steel consumption trend in India is growing, driven by a strong manufacturing sector, diversified demand and accelerated infrastructure spending, among other factors.

The World Steel Association seems to agree with this view.

In his report, he predicts strong demand for steel in China, while he expects demand in India to grow.

Steel experts agree that unlike China, where almost all of the steel industry's growth history has been driven by infrastructure, India's steel consumption will be driven by two infrastructure engines as well as the needs of a growing population.

Steel consumption in India has grown to 66 kg per person in recent years. The goal of the government is to bring it as close as possible to the world average of more than 200 kg per person.