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Steel production in India is almost on par with Japan

Steel production in India is almost on par with Japan

India is the world’s top three States for the largest manufacture of steel. It occupies the third position in 2015, ahead of the United States of America.

For the first quarter of 2017, the gap in the manufacture of steel between Japan and India is 1.8 million tons. Last year during the same period, the difference amounted to 3.64 million tons of steel. And the year before, the gap in steel production was 5.1 million tons.

The difference is reduced due to the lightning-fast increase in the production of Indian steel. In Japan, the manufacture of this metal is characterized by a decrease in the rate. So, for the first quarter of 2017, the Indian steel production increased by 7.1%. In Japan, the production of this metal in the same period increased only 1.9%.

In April this year, India’s steel production surpassed Japan. The Indian steel production increased by 4.8%. Japan over the same period was able to increase the production of the metal by only 3%.

At the moment India is rapidly increasing production of steel. In Japan, the production of this metal is gradually on the decline. So in 2016, it produced about 105 million tons of steel. The higher the rate of steel production was in 2014 and it was $ 111 million.

In 2016, the production of steel in India has increased to 95 million tons. The increase in steel production in India was the largest in 2016, among the major States.

India is rapidly developing the production of steel, whose power reaches 126 million tons. It is likely that the capacity will reach 150 million tons of steel by 2020. State authorities intend to make the steel to 150 million tons in the next ten years.

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