INTL FERRO-ALLOYS CONF: Strong recovery expected in 2021, but return to pre-Covid levels unlikely

Despite a quicker-than-expected recovery across certain regions following the economic fallout of the Covid-19 pandemic and expectations of a stronger recovery overall in 2021, a return to pre-coronavirus levels next year is unlikely, delegates attending Fastmarkets’ International Ferro-alloys Conference heard.

“In the space of steel and ferro-alloys, if we are able to manage the Covid-19 pandemic effectively from now, we have some scope of some vaccine coming sometime earlier next year or first quarter next year… I believe we will see significant recovery in 2021, even if we may not hit exactly what we did pre-Covid,” Thomas Cherian, the managing director of Tata Steel Mining, said on Monday November 9.
“There is a strong pull-up for everything to come back [to normal], so a V-shape recovery is possible,” Cherian added.
US-headquartered pharmaceutical company Pfizer announced on Monday that the coronavirus vaccine it has developed with German partner Biontech was found to be more than 90% effective against Covid-19 in the first interim efficacy analysis.

The news boosted hopes around the world that the pandemic could effectively be brought under control and in turn...


Amy Lv

November 11, 2020

06:00 GMT