The global epidemic situation has far-reaching effects on the economy

The global epidemic situation has far-reaching effects on the economy. It is difficult for the domestic economy to recover fully in the first half of the year, and the impact on foreign countries is also very serious. The central bank of the world releases water very vigorously, but it cannot solve the fundamental problem. Before the appropriate stimulus policies are introduced, the economic growth prospects are not optimistic. The direct and indirect exports of steel products have been significantly affected. The consumption of steel products has declined. It is expected that the apparent consumption will fall by more than 30 million tons compared with last year. However, the productivity of steel has not decreased, and production is still increasing. In the first quarter, national steel production increased by 1.2%. The price of steel fell by about 5.% year-on-year, and the profit of the steel industry will be at a lower level under this loose supply situation. In 2020, steel prices will fluctuate downward, corporate profits will generally decline, some companies will lose money, and even the capital chain will break. The steel industry will face severe challenges.