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Economics and Finances
ArticleName Analysis of trends and prospects in the ferrous metals market: impact of the global crisis
DOI 10.17580/chm.2022.02.13
ArticleAuthor T. P. Rakhlis, N. V. Skvortsova, V. N. Nemtsev

Nosov Magnitogorsk State Technical University, Magnitogorsk, Russia:
T. P. Rakhlis, Cand. Ped., Associate Professor, Dept. of Economics, e-mail:
N. V. Skvortsova, Cand. Econ., Associate Professor, Dept. of Economics
V. N. Nemtsev, Dr. Econ., Professor, Dept. of Economics


The article is devoted to the analysis of the current state of the world and Russian ferrous metals market, with special attention paid to the issue of pricing for metal products. The research is based on methods of statistical and comparative analysis, as well as rating and prognostic assessments. It was revealed that the main damage to the global metallurgical industry at the beginning of 2020 was caused by a drop in demand for metals against the background of a drawdown in economic activity of many subjects due to the introduction of anticoronavirus restrictive measures. Further, the reasons for the rapid growth of demand and prices in the ferrous metals market in 2021 are identifi ed: a sharp recovery by developed countries of their economies after the removal of lockdowns, the implementation of long-term infrastructure projects, the lack of metal reserves in the world, the transition of the metallurgical industry to the path of a «green» economy, etc. Based on the identifi ed trends and expert opinions, the prospects for production, consumption and pricing in the metal and metal products market are predicted.

keywords Ferrous metallurgy, world market, metal production and consumption, pandemic crisis, sustainable development, decarbonization, taxation

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