Earlier this year, when the Covid-19 pandemic first took hold across Europe, many countries brought in strict nationwide lockdowns, which had the effects of halting or reducing steel production
, curtailing construction projects and closing automotive plants
Since the lockdowns have been removed across the continent, business activity has slowly restarted in the various steel sectors
, although the effects continue to be felt by some.
In the European long steel market, many participants believed that a second wave of Covid-19 would not trigger the sort of nationwide lockdowns seen in spring, because the economy “was already hurt badly and won’t survive total shutdown all over again.”
“In our country,” an Italian mill source said, “there are fewer cases than in France, Spain and the UK. If there is a lockdown, the general feeling among companies is that the government would not halt industrial production [as it did in...