South Korean steel giant Hyundai Steel reported 16% decrease in its crude steel output during Q2 CY ’20 at 4.7 mn t as against 5.5 mn t in Q2 CY ’19. Production decreased due to falling demand due to COVID-19 pandemic, company report cited. The company sold around 4.6 mn t steel products in both domestic and foreign market during Q1, a decrease of 20% y-o-y.
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