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Steel Industry: COVID-19 Impact

Steel Industry Affected by Lowered Demand During COVID-19 Outbreak

Global crude steel production decreased by 1.4% in the first 3 months of 2020 compared to the same period in the previous year. Although steel was declared an essential industry in several countries, demand for steel production has fallen sharply during the pandemic. Automotive manufacturing, one of the largest consumers of steel, has been curtailed in an effort to slow the spread of COVID-19 while falling energy prices have led to much lower demand from sectors like oil and gas. Many non-essential construction projects have been halted as a result of the COVID-19 outbreak which has also negatively affected demand for steel.

Recently, several automotive manufacturers such as Volvo, Toyota, VW, Nissan and Seat have announced plans to begin re-opening factories and restarting vehicle production in the European Union and United Kingdom which could lead to increased demand for steel. There are also signs that China, the largest metal consumer in the world, is moving towards recovery with imports of semi-finished steel increasing over the last two months.

We have included a selection of our most popular market research on steel below.

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Iron and Steel Forging - 2020 U.S. Industry Market Research Report with COVID-19 Forecasts

1

Iron and Steel Forging - 2020 U.S. Industry Market Research Report with COVID-19 Forecasts

  • ID: 4897839
  • Report
  • 37 Pages
  • Region: United States
  • Kentley Insights
Steel Scrap - Global Market Trajectory & Analytics

2

Steel Scrap - Global Market Trajectory & Analytics

  • ID: 1382319
  • Report
  • 277 Pages
  • Region: Global
  • Global Industry Analysts, Inc
World - Iron And Steel - Market Analysis, Forecast, Size, Trends and Insights

3

World - Iron And Steel - Market Analysis, Forecast, Size, Trends and Insights

  • ID: 3937509
  • Report
  • Region: Global
  • IndexBox Inc.
Crude Steel Market - Growth, Trends, and Forecast (2020-2025)

4

Crude Steel Market - Growth, Trends, and Forecast (2020-2025)

  • ID: 4997523
  • Report
  • 120 Pages
  • Region: Global
  • Mordor Intelligence

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