The steel industry is currently being affected by Russia’s ongoing invasion of Ukraine and its myriad of knock-on effects.
All steel is not created equal. There are several different types of steel, including carbon steel, steel alloys, and stainless steel. Each of these have uses in different applications, and they are rated based on that application. Grading stainless steel falls to two different (and completely separate) organizations depending on how the steel will be...
Steel is an interdisciplinary metal. The most common places steel is used is in infrastructure, machinery, and appliances. Even those categories are diverse in application.
Steel is always a hot commodity in the global market, but the demand for steel has increased by record amounts over the past two years, and shortages are causing market issues. Many buyers have expressed their concern about having enough steel for production needs in 2022.
For decades, the steel industry has battled with environmental friendliness. The world’s leading steelmakers are bustling to reduce carbon emissions by revolutionizing their technologies. Currently, the steel industry is one of the top three most prominent carbon dioxide producers.
Recovery is the word of the year as the steel industry comes roaring into 2021. With the third coronavirus vaccine now on the horizon, a calmer wave of steadily growing supply and demand will set the industry on the path to return to pre-pandemic levels.
The steel industry is one sector that is bounding back with a vengeance from the prolonged slump brought on by the pandemic. In its early months, closures and the slow implementation of infectious disease management protocols in manufacturing plants severely delayed production.
Every modern society faces the dual (and at times conflicting) ideals of economic growth and environment responsibility. Steel has played an enormous role in the world’s economic growth in helping build buildings, bridges, ships, trains, cars, machines, and more objects essential to the advancement of society.
Look around the world, the economy, and just about every market and industry out there. You’ll see that the coronavirus pandemic has changed the world in virtually every way possible. The steel market is not exempt from this, with COVID-19 taking a significant toll on our industry.
The COVID-19 pandemic threw the world for a loop when it began to spread rapidly in March 2020. The world panicked, and everyone locked themselves indoors to stay safe. This resulted in a bonafide economic recession due to decreased consumer activity.