Global crude stainless steel production to drop in Q2 y-o-y
4 Aug 2020 13:31 reported by Joy Liu
Global crude stainless steel production was expected to be 47.2 million tons in 2020, dropping by 10% compared to the previous year. The decrease was mainly due to the COVID-19 epidemic and worldwide national and local government’s prevention measures in many stainless steel producing areas to restrict virus spread.
The drop in global crude stainless steel production was started to be reflected this March. The output in the first quarter dropped by 6% year on year.
The independent steel industry analyst MEPS foresaw that global crude stainless steel will be down by 20% in the second quarter compared to the same period a year ago.
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