What Now? The Steel Industry Post Covid

As the wheels of the global economy start turning again, the post-Covid steel industry looks out on a vastly altered landscape. However, ‘strong as steel’ applies to more than metal strength. The steel industry is resilient and has always worked through challenges with an eye on improvements.

Responsiveness to changing requirements and new realities only strengthens the relationship between steel manufacturers and users. The industry is service-oriented, and customer demands are paving the highway recovery.

Post-Covid Steel Industry Rises Like a Phoenix

There’s no question that there are massive shortages in flat steel and heavy-wall mild steel. Projects afoot in South Africa tax the steel industry’s production, resulting in price increases. This is temporary, however.  When availability once again balances with demand, steel prices will reflect that sweet spot once more.

As the world forges ahead to rebuild itself, steel remains the touchstone for progress and reconstruction initiatives. Like a Phoenix rising from the ashes, steel is set to resume its place in the new post-covid world.

Bravo to the Steel Industry’s Post Covid Response

Caught a little bit on the back foot in the uncertainty and unanticipated rapid recovery after the pandemic lockdown, the steel industry is making up for lost time.

Playing to various aspects of steel-using industries, manufacturers show accelerated efforts toward solutions for climate change adaptation. That translates into a mainstream focus on zero-emission projects, smart and green buildings, and infrastructure modernisation.

Steel is at the forefront of the top two transformational forces of our century, i.e. technological progress and the green transition.

According to Dr Baris Bekir Çiftçi of Worldsteel, ‘we  already see some countries announcing “green recovery packages” that place supporting renewable energy development and decarbonisation technology development at the centre of their plans for economic recovery from the pandemic.’

Post-Covid Steel Industry Vision

This pandemic episode has catapulted the steel industry to explore its product’s life cycle and circular economy attributes. As these characteristics are improved, the steel industry is not shy to champion the superior attributes of these products.
During the global recession, new technologies have been developed on the back of a self-reinforcing cycle of technological progress. Three cheers for steel!

Steelmor is the leading supplier and manufacturer of stainless steel in South Africa. Give us a call today on 011 747 5700 for everything stainless steel.