Ferrous Metallurgy Production in Russia: How Will the COVID-19 Pandemic Affect?

Abstract

Metallurgy is one of the key industries both in Russia and in the world. It has a significant influence on the situation in related industries. Therefore, the current state analysis of ferrous metallurgy production and its formation based on the short-term technological forecast is essential. Based on the foregoing, the research was aimed at analyzing the current state of ferrous metallurgy production in Russia and the impact of the COVID-19 pandemic on the prospects for industry development in the short term. The research studies the state of the ferrous metallurgy production in Russia and abroad before the COVID-19 pandemic, as well as the volume of industrial production in ferrous metallurgy and the industry structure. The COVID-19 pandemic has triggered a serious global recession, necessitating an analysis of the forecast for the development of the ferrous metallurgy industry. The research concludes that the Russian ferrous metals market is so far affected to a lesser extent compared to the European one.