Korea's crude steel production in May

Korea’s crude steel production in May

According to the reports released from International Iron and Steel Institute (IISI), Korea's crude steel production during the month of May amounted to 3.97 million tons, which is 1.3% higher than the production recorded in May of last year. With this May production of 3.97 million tons, the year-to-date production reached to 18.96 million tons, up by 2.7%. While worlwide output has increased by 8.6% compared to same period last year to 386.62 million tons in the first five months of this year. As a result, Korea's crude steel output ranking has fallen out of top five to number six in the year-to-date period.