An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
According to July’s custom data, China’s iron ore imports have surged up by 24% making it a record from a year earlier. This is driven by shipments from miners and buoyant demand as the economy bounced back after disruptions from the coronavirus pandemic. China steel output is set to rise by 4%, rupturing 1 Billion MT for the first time. How has China’s steel production and demand managed to stay ahead during these unprecedented times when the rest of the world is still recovering from the COVID-19 hit?
Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Steel market. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Iron & Steel market landscape.
Let's explore the viewpoints from influencers in the market and learn the various opportunities this new normal presents.