Impact of the COVID-19 Pandemic on theWorld Steel Market

The article analyzes the activities of steel companies during the COVID-19 pandemic in 2020. The COVID-19 pandemic and the subsequent economic crisis have become one of the most serious challenges for world steel companies. The consequences, which are expressed in a decrease in demand for steel products from the key consumer sectors—automotive industry and construction, and other consumers, have caused a high level of uncertainty in the international steel market, and have identified new development vectors that should help overcome the crisis in the steel industry. The article assesses the impact of the pandemic and current global economic crisis on the global steel industry, including Russia; identifies trends and prospects for the development of the global steel market; identifies key areas for the recovery of the steel industry after the COVID-19 pandemic. © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022.