Hyundai Iron (hyundai steel), a South Korean steel producer, reported in its first-quarter earnings report that World Steel Dynamics (wsd) forecast that global crude steel production would fall by 12.9 per cent in 2020 from 1.873 billion tons in 2019 to 1.632 billion tons as a result of reduced end-demand, with developed-country output falling by 22.7 to 354 million tons, emerging-market output falling by 9.7 to 1.278 billion tons and Chinese output falling by 5.6 to 940 million tons
South Korean steel producer Hyundai Iron (hyundai steel), citing World Steel Dynamics (wsd) in its first-quarter earnings report, forecast that global crude steel production would fall by 12.9 percent in 2020 from 1.873 billion tons in 2019 to 1.632 billion tons, with developed-country production falling by 22.7 percent to 354 million tons, emerging-market output falling by 9.7 percent to 1.278 billion tons and Chinese production falling by 5.6 percent to 9.6 percent .400 million tons of wsd is one of the international steel information consulting and research institutions, its “world-class steel enterprise competitiveness ranking” published in June of each year in the world wide attention and great influence. The world’s crude steel production in the first quarter of this year was 443 million tons, down 1.4% from a year earlier, well below wsd forecast (-12.9%), according to data released by the world iron and steel association (worldsteel), which means that in the second ~ fourth quarter of this year, global crude steel production will be expected to fall more violently or even sharply
According to the World Iron and Steel Association, in 2019, Asia was the world’s largest steel producer with 1.327 billion tons of output, while the 28 European Union countries were the second largest steel producer after China with 159 million tons of crude steel. Among them, China, the European Union, Japan and South Korea are the world’s largest iron ore importing countries and regions, and the distribution of iron ore imports in 2019 was 1.07 billion tons ,108 million tons ,120 million tons and 74.655 million tons.
Modern iron-making believes that the impact of the new-crown pneumonia on the financial and real economy has led to a global economic downturn, and global steel demand has fallen sharply, and the recovery in steel demand will depend on the economic stimulus and the relief process of the epidemic itself
According to the April World Economic Outlook released earlier this month by the International Monetary Fund (imf), global economic growth is forecast to be -3 per cent in 2020 and 3.3 per cent in January, with developed countries -6.1 per cent, January 1.6 per cent, emerging markets and developing countries -1 per cent, January 4.4 per cent, the United States -5.9 per cent, January 2 per cent, China -1.2 per cent, January -6 per cent
In the first quarter, production of modern iron-making steel was 5.09 million tons, about 4.5 percentage points lower than the 5.33 million tons in the same period last year, and steel sales were 5.079 million tons, compared with 5.242 million tons in the same period last year. Hyundai lost 115 billion won in the first quarter, making 114 billion won in the same period last year and 74 billion won in the fourth quarter of last year
Post time: Apr-30-2020