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Hyundai Steel Co. has no plans to cut production further despite weak steel demand due to the coronavirus pandemic, the company's president said. Earlier this year, South Korea's second largest steelmaker reduced its 16mo3 equivalent asme material annual production of hot rolled coils from 1 million tons previously to 700 thousand tons per year for EAFs. A turnaround is expected after the third quarter of this year. In the three months to March 31, Hyundai Steel had a net loss of 88.6 billion won ( million), up from 94.4 trillion won in net profit in the same period last year.

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