World Steel Production Nosedives Amid Coronavirus Disruptions
Finance Yahoo - Global crude steel production took a tumble in April as coronavirus-induced lockdowns and disruptions impacted production across the world and put a lid on demand for steel in major end markets such as automotive and construction. A modest rise in output from China — the world's biggest steel producer — was more than offset by declines across other major producers.
Per the latest World Steel Association (“WSA”) report, crude steel production for 64 reporting nations plummeted 13% year over year to 137.1 million tons (Mt) in April. Notably, output sagged in every region during the reported month.