South Korea's steel production fell below 70 million metric tons for the first time in four years in 2020 as demand from automakers, shipbuilders and construction companies fell amid the COVID-19 pandemic, industry data showed Sunday.
In 2020, the country produced a total of 60.71 million metric tons of steel, ranking sixth in terms of steel production after China, India, Japan, Russia and the United States, according to the Korea Iron and Steel Association.
This was the first time that local steel production fell below 70 million tonnes after 68.6 million tonnes in 2016.
Last year, global steel production fell 0.9 percent to 1.86 billion tonnes, the first decline from 3.1 percent in 2015.
Steel production in South Korea drops below 70 million tons due to pandemic
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Azovpromstal® 15 February 2021 г. 10:46 |
