China's crude steel production last year approached 350 million tons and the country's share of world total output rose from just over 26% in 2004 to almost 31% in 2005, according to MEPS International Steel Review (www.meps.co.uk). “Its own production growth was partly responsible for the higher share, but reduced output in other countries also played a role,” a MEPS analysis contended. China's 2005 output of crude steel was up by almost 25% from the previous year.
MEPS reported that India was the only other major steelmaking nation to show a significant increase in production last year. Indian crude steel output rose by nearly 17% to just over 38 million tons. India recently adopted a national steel policy that will seek to raise production to over 100 million tons by 2020. Foreign investment is being encouraged.