South Korea: Hyundai Steel reports 3.4% decline in crude steel output in Q3 CY’20

South Korean steel giant, Hyundai Steel reported Q3 crude steel output at 4.53 mn t, down 3.4% q-o-q compared to 4.69 mn t in the previous quarter CY’20. On a y-o-y basis, production fell by 12% against 5.15 mn t in Q3 CY’19. Company’s steel production through blast furnace increased whereas production through EAF decreased due to mini-mill shutdown and demand contraction by bad weather.