India's steel output down 3.2 per cent in February

India's steel production declined by 3.2 per cent while globally it averaged a 0.6 per cent rise in February mainly due to higher Chinese output.

India, the world's fourth largest steel producer, logged an output of 6.28 million tonnes (MT) in February, compared to 6.48 MT a year ago, premier industry body World Steel Association (WSA) said in a release on Thursday evening.

India's production in the first two months of 2014 is at 13.23 MT, down 1.5 per cent, compared to 13.44 MT in January-February last year.

Global production of steel increased by 0.6 per cent during the month compared to 124.27 MT during February, 2013.

"China's crude steel production for February 2014 was estimated at 62.1 MT," WSA said.

Japan produced 8.4 MT - a rise of 1.4 per cent over February 2013, while South Korea produced 5.3 MT, up 6.2 per cent over February 2013.

Total production by Asian nations rose 0.6 per cent to 83.70 MT.

European Union's production also increased 4.7 per cent to 13.87 MT over 13.25 MT a year ago. Germany produced 3.6 MT, Italy 2.2 MT, France 1.2 MT and Spain produced 1.2 MT, among others.

Turkey's crude steel production for February 2014 was at 2.7 MT, up by 0.7 per cent over February 2013, WSA said.

Russian output was 5.3 MT, a dip of 3.1 per cent. Ukrainian output was 2.3 MT in February 2014, down 10.7 per cent.

The US produced 6.7 MT steel in February 2014, down 1.7 per cent. Brazil's output was at 2.6 MT, a rise of 1.2 per cent compared to February, 2013.

"The crude steel capacity utilisation ratio in February was 77.6 per cent," WSA said.