Ilya Gushchin, vice president of sales at NLMK, Russia's largest steelmaker, said global steel demand is expected to decrease by 2% this year but will increase by 4% in 2021.
Steel demand in Russia is under pressure from Russia. The coronavirus outbreak decreased by 7% in 2020, but will recover by 5% next year.
Furthermore, steel demand in EU countries was expected to down by 15% this year, but increase by 11% next year. In the U.S., demand was forecast to increase by 7% in 2021, while it would decrease by 16%.
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