Ilya Gushchin, vice president of sales for the largest steel producer in Russia, NLMK, said that global steel demand is expected to fall by 2% this year but increase by 4% in 2021.
Steel demand in Russia is under pressure from the coronavirus pandemic to decline by 7% in 2020, but will rise by 5% next year.
In addition, this year the demand for steel in the EU was forecast to fall by 15%, and next year - by 11%. In the United States, demand was projected to decline by 16%, with growth of 7% in 2021.
NLMK predicts 7% drop in steel demand in Russia in 2020
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