According to the World Steel Association (Worldsteel), India’s crude steel production in October 2024 increased by 6.84% compared to the previous month, reaching 12.5 million tons. Production increased by 1.7% compared to October 2023. With this performance, India maintained its 2nd place in the world rankings.
In January-October 2024, India’s total crude steel production reached 123 million tons, marking a 5.6% increase compared to the same period last year.
Although steel production in India and Türkiye, which are the leading ferrous scrap export destinations of the US and Europe, increased slightly in the last quarter of the year, the growth rate has slowed compared to the levels at the beginning of the year. India's 1.7% y-o-y increase in October 2024 was below the 5.6% growth rate in the first 10 months of the year, according to Worldsteel.
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