Analyst Pin-board: Steel Production and Consumption in 5M2020
In 5M2020, the domestic steel consumption and construction industry were hit strongly by COVID-19. The government’s measures to control the pandemic, including travel restriction on people and goods, social distancing, and the disruption in the international supply chain affected negatively steel production and consumption. The construction industry grew at a pace of 4.4% in 3M2020, significantly lower than the pace of 9.2% in 2019. Meanwhile, domestic consumption of construction steel and steel pipes fell by 9.2% and 10.1%, respectively. Noticeably, the domestic consumption of coated steel still grew by 4.5%.
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