Global steel production increased by 12.4 percent

Sunbd Desk || Published: 2021-08-26 11:42:28 || Updated: 2021-08-26 11:42:28

For the world economy the growing production of  global crude steel is bringing good news.With this, the global production of the practical metal has increased for seven consecutive months. Metal production rose 3.3 percent in July and 12.4 percent in the first seven months of the year. This information has been given in the monthly report of the World Steel Association (WSA).

In the international market The demand for steel is increasing exponentially. According to a report released by the WSA in April, global demand for steel will increase by 5.8 percent this year. The annual demand will stand at 187.40 crore tons. Next year, the demand will increase to 192.46 crore tons. The market for the metal product is recovering from such an upward trend in demand. As a result, global production is increasing.

Sunbd/NJ

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