The impact of COVID-19 on the steel industry
admin
25-10-2023
As the global economy has been hit by the COVID-19 pandemic, the steel industry and the whole steel value chain have suffered from the crisis in a very significant way. The underlying distortions caused by the existing overcapacity have further aggravated the situation.
It is in this context that GFSEC members and industry representatives met at a virtual stakeholder event on 7 July 2020 to discuss the impacts of COVID-19 on steel markets and the expected recovery path, policy responses to the crisis, and the longer-term effects that the crisis may have on excess capacity and the overall health of the global steel industry.