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...

Published

Amy Lv

November 11, 2020

06:00 GMT

Shanghai