The new crown epidemic soared again, and the global steel market turbulence intensified.

The resurgence of the new crown epidemic has forced the global steel trend to repeat itself. During the reporting period, the 96.2-point Steel House Global Steel Benchmark Price Index fell by 0.2% week-on-week (turning from up to down), rose by 3.2% month-on-month (convergence of gains), and fell by 12.2% year-on-year (same as before), year-on-year 12.5% decline (increased decline). Among them: the flat product index was 87.7 points, a decrease of 0.2% from the previous week (turning up and down); the long product index was 108.5 points, a decrease of 0.3% from the previous week (up and down); the Asian index was 106.3 points, up 0.5% from the previous week (a rise) convergence). In Asia, China's index was 108.5 points, up 0.5% week-on-week (the gains were converging); the Americas index was 95 points, down 1.7% week-on-week (from rising to falling); the European index was 80.3 points, down 0.6% week-on-week (from rising to falling) ). Data and information show that, due to bullying and geopolitical bottom-line influence, the global anti-epidemic situation has become more severe, and the negative impact on the economy and society has far exceeded expectations. The pressure of over 10 million confirmed cases and the expected fall of the economic restart have also changed the industry's judgment on steel potential. According to the trend of international steel prices, combined with the predictions of the fundamentals of various regional markets, the international steel market in July may now restrain first and then rise and fall.

Global crude steel production decreased by 40 million tons in the first five months of this year. According to data from the International Steel Association: in May 2020, the crude steel production of 64 countries included in the World Steel Association statistics was 148.8 million tons, a year-on-year decrease of 8.7%, and a reduction of 14.23 million tons; in the first five months of this year, global steel production was 729 million tons , A year-on-year decrease of 5.2% and a reduction in output of 40 million tons.

Global steel demand may return to 2019 levels in 2022. World Steel Association Director General Edwin Basson said that the new wave of the new crown epidemic will delay the recovery of global steel demand. It is expected that global steel demand will return to 2019 levels in 2022, and the main driving force for demand recovery will come from the construction industry.

Pohang and Hyundai joined the South Korean small and medium-sized steel enterprise assistance fund project. A few days ago, Posco and Hyundai Steel joined a government-led fund project with a total amount of 100 billion won (82.3 million US dollars) to provide financial assistance to small and medium-sized steel companies struggling with liquidity due to the epidemic.

American Steel Corporation lost 5 billion yuan in the first two quarters of this year. The US Steel Corporation's financial report shows that the net loss in the first quarter of 2020 was US$391 million, the loss in the second quarter was about US$315 million, and the total loss in the two quarters was US$706 million (about 5 billion yuan).