World Steel May Production Slumps Despite Record China Output

Global crude steel production took a tumble in May as disruptions associated with the coronavirus pandemic hurt output across the world and crippled demand in major steel-consuming sectors. A surge in production from China to a new record high was more than offset by declines across other major producers.

Per the latest World Steel Association (“WSA”) report, crude steel production for 64 reporting nations plummeted 8.7% year over year to 148.8 million tons (Mt) in May. Notably, output declined in every region during the reported month.

China Churns Out Record Production

Crude steel production from China — the world’s biggest steel producer — shot up in May to an all-time high on an uptick in demand from construction and manufacturing sectors as the country continues its gradual recovery from the fallout of the pandemic. Per the WSA, production in China, which now accounts for more than 60% of the global

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Hyundai Palisade, Genesis GV80 Production Stops Due To Lack Of Parts

This isn’t the first production stoppage for the automaker.

Production of the Hyundai Palisade and Genesis GV80 stopped earlier this week because there weren’t enough parts. The report from doesn’t specify why production stopped on Monday, June 15. However, the publication did note that the Palisade and GV80 production stoppage comes after three assembly lines – two at Hyundai’s Ulsan 2 plant and one at Ulsan 4 – were shut down after a parts supplier employee passed away from what’s believed to be the coronavirus.

Production stoppages have plagued the South Korean automaker since the pandemic began. Back in February, production ground to a halt due to a shortage of wiring harnesses. At the time, the Chinese suppliers struggled to meet demand due to the pandemic, and disruptions appear to be continuing. As governments ease restrictions and employees return to work, the coronavirus is still spreading, causing such hiccups.

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