Worldwide steel production in the first three months of 2012 remained virtually flat, rising by a mere 1.1% to 376.76 million tonnes from 372.77 mn tonnes last year, according to data released by World Steel Association (WSA)  recently.

The figures for March reflect a similar lack of growth, with production increasing by 1.8 per cent to reach 132 mn tonnes.

The trend in India followed the global pattern. For the three month period ended March 31, India’s output remained stagnant at 18 million tonnes, while March production was up marginally to 6.2 million tonnes from 6.1 million tonnes last year.

Even Asia which at 241.7 million tonnes accounts for nearly 56 per cent of the total output, registered a disappointing 1.5 per cent growth.

China was marginally better off, producing 174.21 million tonnes, for a 2.5 per cent growth. Production in the EU was down by 3.9 per cent at 43.9 million tonnes, while production in the US grew by a more impressive 8.3 per cent to 23.01 million tonnes.