The global steel industry experienced a minor contraction in demand in 2020 due to the pandemic, but China saw an expansion in steel use while the rest of the world contracted. The industry is expected to see normalisation in demand in 2021 as vaccines progress and global society behavior changes. The pandemic has accelerated key trends that will bring about shifts in steel demand, such as digitization and automation, infrastructure initiatives, reorganization of urban centers, and energy transformation. Climate change will also influence the industry. The steel industry is taking a three-track approach to manage the impact of climate change, focusing on improved efficiency, maximizing scrap use, and developing breakthrough technologies. This booklet provides an overview of steel industry activities.
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