Overview of the Steel and Iron Ore Market – 2020
We are pleased to present you with the full version of our analytical report on the steel and iron ore market in 2020. This document contains a summary of preliminary data for nine months of 2020 and our experts’ outlook for 2020-2021.
We have published this report every year since 2015 with the aim of providing a comprehensive study of the metals industry.
In 2020, the iron and steel industry was significantly affected by the COVID-19 pandemic. According to our analysts’ forecasts, in 2020 global steel output will be 1,799 million tonnes (-2.8 percent YoY), and consumption will amount to 1,782 million tonnes (-4.3 percent YoY).
Despite the pandemic, steel output and consumption will continue to grow in 2020 in China due to large-scale initiatives aimed at boosting investments. By the end of 2020, China’s share in global steel production will reach 57 percent (+3 pp compared to 2019).
Russian steel output in January–September 2020 was 52.5 million tonnes (-2.9 percent YoY). By year end, metals production is expected to be down by 3 percent year-on-year.
Please feel free to contact us if you have any questions regarding this report.