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In the past three years, the steel industry has been impacted by the COVID-19 pandemic in several ways. Demand for steel has decreased as a result of economic downturn and disruptions to supply chains. This has led to a decrease in steel production and prices.

 World crude steel production decreased significantly during the first semester of 2022, falling to 158.1mn metric tonnes in June 2022, a 5.9% decrease compared to June 2021.

The Russian invasion of Ukraine caused prices to rise by $500 per ton in Europe and the United States, but they were already back down by around $600 or more by mid-July. Another $200–250 per ton is expected for coil. In Europe, Asia and United States, prices for coil prices fall down to around $600- $800 in Q32022 and is expected to be in the same range till Q32024.

• Executive Summary
• Key Players
– Nucor Corporation
– United States Steel Corporation
– Steel Dynamics, Inc.
– ArcelorMittal S.A.

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