The World Steel Association, as the official reference for international steel studies, has recently updated the short-term outlook for global steel markets for 2020 and 2021 and published results in this regard. This short-term win includes the most optimistic outlook on the institute’s other reports in recent months, especially in June.
*** global steel markets and reducing demand
The summary of steel developments in world markets can be summarized in the sentence that global steel markets are still in the process of reducing demand. Imam Sanaye will gradually return to its normal days with a gentle slope and witness the growth of demand in the last days of the year. We will be 2020. It is hoped that demand will gradually return to normal in previous years.
In this analysis, we will deal with recent events in the global steel market. Please stay tuned to Artan Press.
*** Global steel demand in 2021
In 2020, the analytical journal World Steel predicted that steel demand would decline by the end of this year, so that the overall international steel chain will see a 2.5 percent drop in global steel transactions. Due to the COVID-19 epidemic, this prediction was largely realized and the demand deficit in international markets reached a record 115 million tons of steel.
Demand for steel is expected to reach 1,795.1 million tonnes in 2021, an increase of 4.1% over 2020. This issue has started from the end of the month in all global steel markets and it is predicted that the upward trend will accelerate over time. Previous analyzes have addressed this issue in detail.
*** The growth and prosperity of Chinese steel
The growth and prosperity of Chinese steel provides the path for the growth of other steelmakers around the world. On the other hand, it was one of the first countries to control the Corona pandemic, and its industry suffered the least from this disease compared to other industrialized countries.
We are currently facing a phenomenon in the steel industry called demand lock. This is true of almost all steelmakers because we are in a situation where many industrial enterprises around the world are in a phase of closure or semi-closure. In the current situation, the situation of the Chinese market is better than other markets, even in Asia.
*** Improving global steel demand
Better market in China means that the process of improving the lock on steel demand in the rest of the world has been stronger and better than expected, but still in 2020, both in developed and emerging countries. , A deep downturn has overshadowed the markets, we expect to see a slight improvement in 2021, which will reach a pre-pandemic level by the end of the year.
In the current situation, the productivity indicators of the steel industry in the whole world are not in an acceptable situation. The global steel industry is at its lowest level of recorded demand in the last three years. And the continuation of the path to success in steel-producing countries depends on their successful performance in purchasing vaccines and controlling the disease. Recovery in different countries depends on their success in controlling the virus, the structure of national industry, and ultimately economic support measures.
*** Severe contraction in steel demand now
China is a successful example of controlling disease conditions in its own country, which has had a profound effect on its steel economy, especially over the past three months. In the rest of the world, we are witnessing a sharp contraction in steel demand, both in developed and developing economies. This crisis is particularly challenging for the developing economy as they continue to grapple with uncontrolled viruses, low commodity prices, and declining exports and tourism. The epidemic has severely affected the huge tendencies to invest in the steel sector, and this issue will diminish somewhat over time.
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