Email: sales@steel-sst.com
简体中文 | English | Espaol Get a Free Quote
   Home > News > Company news >

Company news

Chinese Steel Companies Actively Fight The Epidemic to Ensure Production

Affected by COVID-19, global steel and upstream and downstream related companies have repeatedly cut and stopped production since the beginning of 2020. Demand has shrunk, supply has been blocked, and they have faced high shutdown costs and greater financial pressure. In particular, the European steel industry has been hit hard again even when it has not fully recovered from the 2008-2009 financial crisis, and the situation is grim. Fortunately, the main iron ore producing area did not become the “severely affected area” of the epidemic, and the epidemic has little impact on the actual supply of iron ore, and the production and supply of other steel crude materials industries (metallurgical coal, scrap steel) have not been influenced much.

Global steel companies are actively fighting the COVID pandemic and ensuring production, and have taken various measures to break through the predicament. For example, Korean POSCO Steel bucked the trend through measures such as stock repurchases, industry mutual assistance, and the establishment of research institutes; India’s Tata Steel Limited adjusted its operations in a timely manner, reduced production in Europe, strengthened India’s domestic business, expanded steel exports, and strengthened quality. Products and special services, while actively seeking loan support from the local government; Germany's ThyssenKrupp reassessed the group's investment portfolio to accelerate the pace of diversified strategic transformation, etc.

It is worth mentioning that since the second quarter of 2020, as the epidemic in China has been basically brought under control, coupled with a looser fiscal policy and a more flexible monetary policy, as well as a boost in demand for traditional and new infrastructure, the Chinese economy has gradually recovered. China’s steel industry, which has more than half of the global crude steel output, has played an important role in helping the global steel industry get out of the epidemic and get back on track.

Sigma Steel followed the government regulation and fought against the COVID effectively. The epidemic was under control within two months and we drove back to the normal track rapidly. After recovery, we are able to produce efficiently to fulfill magnanimous demand.

In the global steel industry's anti-epidemic and production process, China's steel industry is a well-deserved leader.





(Source:csteelnews.com)
Previous：China's 2020 National Steel Output Reached One Billion Next：What is Galvanized or Zinc Coated?

RELATED NEWS

CATEGORIES

CONTACT US

SIGMA STEEL

Tel: +86 13183009891

Whatsapp: 0086-13183009891

Email: sales@steel-sst.com

Add: #2411 Buliding Wangding International ,Shangwuwaihuan Road,Zhengzhou City, Henan Province, China, 450000