According to Hyundai Steel company’s announcement, its crude steel output decreased 3.3% y-o-y in 2021. The main reason was company reconstruction, work labor, and so on.
Its sales also decreased by 2.9% y-o-y in 2021. The decrease happens after the country’s automobile output and sales decreased in continuous 6 years. Considering the peak of automobiles in 2011, 2021 was the lowest point in the past 10 years.
Even though output and sales decreased, its profit increased in 2021 because the prices increased in the second half-year in 2021 according to the company.
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