South Korea: Hyundai Steel’s production and sales decline in CY’20

South Korean steel giant Hyundai Steel has reported CY’20 crude steel production at 19 mn t, a fall of 10% y-o-y against 21.2 mn t in the previous year. Production decreased as global demand shrank by COVID-19. The company’s sales in CY’20 totalled 19.6 mn t, declining by 8% y-o-y due to slump in industry demand.