For long steel products such as beams, hollow sections, rebar and wire rod, construction is a key sector for demand. With the Covid-19 pandemic and associated lockdowns easing, some countries were coping better than others
, despite the differing intensities and lengths of their lockdowns.
The first signals of a gradual slowing in the construction industry in Europe due to the effects of Covid-19 were seen in May, restraining long-steel consumption, with a number of infrastructure projects either cancelled or delayed because of lockdown measures, Fastmarkets understands.
“[The numbers of] new building permits in May were substantially lower than in March and April, and many projects have either been put on hold or stopped,” the International Rebar Producers & Exporters Association (Irepas) said in its June outlook report.
In June, construction activity started to recover in most regions, but the pace of this recovery was slow.
The purchasing managers’ index (PMI)...