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World Steel Association: Steel production outside China hit its biggest decline in 10 years
Date:2020-05-06      Views:304Time      Label:World Steel Association: Steel production outside China hit its biggest decline in 10 years

Because of the new crown epidemic, factories in Europe, the United States and other places have been shut down, and steel production outside China has hit the largest decline since the financial crisis broke out;

 

According to the data released by the World Steel Association on Wednesday, steel production fell 11% to 68 million tons, the decline is the highest since 2009; among the major steel producing regions, the EU has the largest decline, followed by India, Japan, South Korea and the United States;

 

The steel industry is the mainstay of most construction and manufacturing industries in the world. Due to the drop in demand due to anti-epidemic measures, the steel industry is forced to restrict production or close factories; Europe is particularly affected, forecasting steel shipments in the region in the second quarter will decline by 37%;

 

Although some regions of the world have resumed work (including China, the largest producer), steel demand may not return to pre-crisis levels until the end of 2021.

 

Global steel production fell by 6% in March, while China s output fell by 1.7% and EU output fell by 20%, the largest year-on-year decline since 2009.