Coronavirus company news summary – India’s crude steel output increases by 2.7% – Covid-19 slumps US steel demand

11 December 2020 (Last Updated December 11th, 2020 09:26)

11 December

Crude steel production in India in November stood at 9.17Mt, a 2.7% rise from the previous month. The increase is a sign of recovery from lows witnessed during the April-November period when production plunged by 16% to 61.3Mt due to pandemic-related lockdowns. October output recovered to the previous year’s levels, led by the country’s six major steel manufacturers.

US Steel-owned pipe mills in Ohio and Texas will continue to remain shut owing to lower demand caused by the ongoing pandemic, while the expansion of its tubular operations at its Alabama mill will help the industry meet short-term requirements. Many tubular firms in the country closed their pipe mills during the pandemic as the demand in the North American region is expected to continue to remain depressed.