Data from the World Steel Association (WSA) shows that India's steel output rose 3 percent to 33.5 million tonne during the first five months of this year (Jan-May 2013). This is well above the world average growth rate of 2.1 percent at 658 million tonne.

In May 2013, India's steel output expanded at a lower rate of 1.5 percent as against the global growth rate of 2.6 percent. During the month, India produced 6.73 million tonne compared to 6.63 million tonne a year earlier.

In April 2013, steel output grew 3.5 percent. The world average rate of growth was below India's rate and hovering around 1.2 percent during the month.

China, which is the world's largest steel producer, generated 7.3 percent more of the commodity at 67 million tonne in May 2013.

Among the major steel producing nations, Japan's output grew 4.3 percent to 9.6 million tonne in May. However, pitted against Asian competitors, South Korea's output dropped by a sharp 7.1 percent to 5.5 million tonne in the month under review.

Among the European Union countries, production in Germany dipped by 1.5 percent, while Italy posted an 11.1 percent decline in steel production.