India has registered an increase of 11.4 per cent in its crude steel production at 11.7 million tonnes (mt) in November this year, according to the World Steel Association (worldsteel).

During January-November, the country’s production was 12.1 per cent higher year on year (y-o-y) at 128.2mt, the global body said in its latest report.

The global steel production in November was at 145.5mt, 3.3 per cent up over the same month in 2022.

The world output rose marginally by 0.5 per cent to 1,715.1mt in January-November 2023, worldsteel said.

China produced 76.1mt steel in November, up 0.4 per cent over November 2022. It produced 952.1mt in January-November, higher than 1.5 per cent y-o-y.

In November, Japan’s output fell 0.9 per cent to 7.1mt, while the overall production was 2.8 per cent lower at 80mt during January-November 2023.

The US produced 6.6mt steel in the last month and 73.9mt in the eleven months of 2023.

Russia produced 6.4mt in November and 70.2mt in January-November 2023. South Korea’s production stood at 5.4 mt in November and 61.3mt in the 11 months of 2023.

In November this year, Germany produced 2.7mt, Türkiye produced 3mt, and Brazil 2.7mt.

With members in every major steel-producing country, Brussels-based worldsteel represents steel producers, national and regional steel industry associations and steel research institutes.

Its members represent around 85 per cent of the global steel production.

Meanwhile, steel products maker Shri Balaji Valve Components on Friday said it has fixed a price band of Rs 95-100 per share for its IPO.

The issue will open for public subscription on December 27 and conclude on December 29, the company said in a statement.

The public issue is entirely a fresh issue of 21.6 lakh equity shares, it said.

At the upper end of the prices, the company aims to raise about Rs 21.60 crore from the public issue. The company’s shares are scheduled on the BSE-SME segment.