The negative impact of the COVID-19 on the steel market is expected to continue around the world over the next three months. The number of coronavirus cases has been growing rapidly in various countries, such as the US, Russia, Brazil, Mexico and Japan. As a result, we anticipate that finished steel demand is going to

Impact of coronavirus on shipbuilding The global shipbuilding industry has been in doldrums due to the falling demand caused by COVID-19. In the first quarter of 2020, global orders for new vessels declined by 70% year-on-year to nearly 2.4 million compensated gross tonnage (CGT). It is ascertained that investment in the shipbuilding industry also hit

The global electrical steel industry will remain subdued in the short term due to challenges posed by COVID-19. Electrical steel demand is ascertained to have declined in key end-users such as appliances, transformers and automotive. Development works on most renewable projects are placed on hold due to disruptions in the supply chain as countries imposed

Slab prices have nearly hit bottom in April and continued its downward trajectory in almost all major markets. Prices have now very little room for further decline. We expect prices to remain range-bound in the short term before turning the corner in May. Commodity Inside expects that any new waves of the COVID-19 outbreak in

Hubei province, where Wuhan is located, is one of the key steel production hubs in China. The coronavirus was first reported in Wuhan in December 2019. The city became the epicentre of the outbreak, though there are now zero new cases reported. The lockdown in Hubei has now been eased after two months of the

Commodity Inside expects that the downward trend in steel prices seen in Asia is due to continue, as economic disruptions increases in various other markets. Furthermore, we expect the number of coronavirus cases to increase in Brazil and the US, which implies that the steel market is going to have both supply and demand been

Steel prices have been on the downward trajectory in major markets around the world due to coronavirus disease 2019 (COVID-19). Steel prices started showing some resurgence in China but were short-lived. The overall Chinese market has started to improve, but it is still far away from where it should be. In Asia, steel trading is

As the name suggests, seamless steel pipes have no seams or welded joints. There are no weaker or stress concentration areas in seamless pipes due to the absence of seam or welds. So the seamless pipes have better and uniform mechanical properties along the cross-sectional axis. But producing a pipe without seam or weld increases