Steel Output Slumped by Most in a Decade in April Amid Virus
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Steel production, a backbone of the global economy, continued its plunge in April to fresh lows, while a recovery in China couldn’t offset losses elsewhere.
Total output dropped 13% from a year earlier, to 137.1 million tons, the World Steel Association said Friday in a report. That’s the biggest monthly decline since 2009, according to the group’s historic data.