:::::::::: 글로벌번역통역센터 ::::::::::
 
 



 
 
> 고객지원센터 > News & Notice
ADMIN 2021. 01. 16.  
LIST  MODIFY  DELETE  WRITE  REPLY 
   제목: Crude steel production plummeted in 2020, but demand is rising
Crude steel production plummeted in 2020, but demand is rising


Posco’s steel mill in Pohang, North Gyeongsang. [NEWS1]
Posco’s steel mill in Pohang, North Gyeongsang. [NEWS1]
.
Production of crude steel in Korea is projected to fall below 70 million tons this year for the first time in four years.


But Korea is expected to hold on to the sixth spot globally in terms of crude steel production as plummeting demand for automobiles, ships and construction impact the industry worldwide.

According to data provided by the World Steel Association and Korea Iron & Steel Association, Korea’s production of crude steel from January through September was 49.6 million tons, down 7.5 percent compared to the same period last year.

It was higher than the global average of minus 3.2 percent and better than the minus 19.1 percent in Japan, minus 18.8 percent in the United States and minus 16.5 percent in India. Bucking the trend, China produced 4.5 percent more steel during the period due to the local government’s investment in infrastructure.

The monthly production rate hovered around 5 million tons until July and started to grow in August.

Industry insiders project that domestic crude steel production this year will stand around 67 million tons. The last time production fell below 70 million tons was in 2016, when 68.6 million tons were produced.

Crude steel production is seen as a barometer that represents the competitiveness of a country’s steel industry.

“Crude steel production has reduced globally due to the impacts of Covid-19,” said a steel industry representative that wished to remain anonymous. “The situation wasn’t that favorable in the first half of the year, but it has improved starting in the third quarter as demand for automobiles and infrastructure businesses like construction have recovered.”

The spokesperson added that Joe Biden’s victory in the U.S. presidential election is expected to boost the steel business.

“Even if [President-elect] Joe Biden tries to boost the infrastructure businesses in the United States through the use of steel from local steelmakers, that means other countries that use U.S. steel will try to import from elsewhere. This will benefit local steelmakers too,” the representative added.

Such expectations have already been reflected in steelmaker shares.

Shares of the country’s largest steelmaker Posco were as low as 133,000 won ($119) in March, but closed Thursday at 236,000 won, up 77.4 percent. Shares of rival Hyundai Steel also recovered from 12,400 won in March to 31,900 won as of Thursday, up 157.3 percent.

“In 2021, the global steel market is expected to grow from the easing Covid-19 impact and stable steel market in China,” said analyst Park Sung-bong from Hana Financial Investment in a report on Nov. 12.

BY JIN MIN-JI


Excerpts articles from Korea Joongang Daily




LIST  MODIFY  DELETE  WRITE  REPLY 





전체글 목록 2021. 01. 16.  전체글: 812  방문수: 2647861
 공지  정규직,계약직,프리랜서직 모집 
812   Unemployment Claims Rise Sharply, Showing New Economic Pain 
811   Millions Flock to Telegram and Signal as Fears Grow Over Big Tech
810   Could Be a Great Year, if Your Business Survives Winter
809   Hyundai shares shoot up on reports it will be behind the 'Apple car'
808   US considering adding Alibaba, Tencent to China stock ban: Reuters
807   KOSPI hits 3,000-point milestone
806   Asia's outlook for 2021 looks rosy but with important downward risks
805   Farmland meets the desert, separated by an irrigation canal, near Fruita, Colo.Credit...Nick Cote fo
804   What 2020 Was Like for People in the Retail Industry
803   With Alibaba Investigation, China Gets Tougher on Tech
802   Moody's, S&P still doubt future of Korean Air, Asiana
801   Paris, Zurich and HK world’s most expensive cities
800   Japanese Citizens Urged to Wear Masks at Home as Cases Swell
799   Hyundai's Motional signs driverless car deal with Lyft
798   Bank stocks losing growth momentum despite year-end dividend season
797   Will bitcoin replace gold as safe haven asset?
796   1,030 Covid cases reported, Moon calls for Level 3 review
795   Hong Kong Buys 15 Million Vaccine Doses From Pfizer, Sinovac
794   With AstraZeneca, SK Bioscience seeking IPO jackpot
793   Australia Sounds Alarm on Trade as China Row Slams Farm Exports
792   SK Telcom merges two security services subsidiaries
791   Bank of Korea keeps key rate at record low
790   Boryung's cancer drug line gets GMP certification
789   Exports rise 11.1% in first 20 days of November
788   Crude steel production plummeted in 2020, but demand is rising
787   Korea Development Bank to inject W800 bil. for Korean Air's takeover of Asiana
786   Startups to compete with promising business ideas at Come Up 2020
785   Posco Energy begins operation of LNG terminal
784   Biden targets virus as transition begins
783   Korean won hits 21-month high after Biden win
RELOAD VIEW DEL WRITE
1 [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] 28