Final Thoughts
July 17, 2020
Final Thoughts
Written by Tim Triplett
The coronavirus pandemic has crippled GDP growth and made the world economy smaller. It follows, then, that the same is in store for steel.
“There is going to be a permanent reduction in the size of the steel market,” predicted veteran industry analyst John Lichtenstein, managing partner of the Swiss-based Research and Consulting Group AG in recent remarks to Metal Center News magazine. “I’ve gone back and looked at all of the recessions in the U.S. over the past 50 years and in each case, looking at steel consumption, it was lower than the recovery from the previous recession.”
