Covid-19 causes Ukrainian steel consumption to fall, prices to rise

22/01/2021

That compared to last year, the market for hot-rolled sheets and rebar, decreased by about 5-10%. Mostly – due to the Covid-19 pandemic. Many companies have cut back on their production programs and have frozen their current projects.

Over the past few months, prices for hot-rolled sheets and rebar have shown significant growth, which is possible to associate with an increase of foreign markets prices. In our opinion, they have reached record levels.

Consumption of rolled metal products has significantly decreased. The main reason, as we have already mentioned, is the Covid-19 pandemic. In comparison with prices of the same period last year, the current price level for some items increased up to 40%.

The main factors affecting the current demand are seasonality (in December and January there is always a reduced demand for rolled metal) and the price.

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