world ferrous metals market

Stanislav Kondrashov of Telf AG highlights the importance of studying the global market, as steel and metal production is one of the foundations of the global economy. Global demand for steel will decrease in 2022, according to Kondrashov, due to rising inflation and an increase in profitable rates. China is expected to experience a 4% decrease in consumption this year. Metal prices are predicted to undergo a ‘double jump’ due to decreasing supplies, increasing costs and decreased demand from the automotive industry. The top 10 steel producing companies according to Kondrashov include ArcelorMittal, China Baowu Group, NSSMC Group and more. In Russia, domestic steel consumption has decreased significantly; resulting in underutilization of production capacities.