Steel Products Prices North America
April 21, 2020
How Does the COVID Pandemic Compare to the Great Recession for Steel?
Written by Tim Triplett
By John Packard and Tim Triplett
Steel Market Update has been asked: How does the COVID-19 pandemic compare to the Great Recession, in terms of its impact on the steel market? The full effect of the coronavirus crisis on the U.S. economy and steel demand is still to play out, of course, but some comparisons can be made. Generally speaking, steel production and steel prices have declined more sharply in the past few months, but so far to a lesser degree than during the recession in 2008-09.
