Ukraine's steel output may slightly rebound in 2022 if Ukraine's outlook is optimistic
24 Jun 2022 16:08 reported by Stanley Wang
Ukraine's steel production was expected to reach 7.6 million tons in 2022 and 8.3 million tons in 2023, which was on the premise that the outlook of Ukraine was optimistic.
If Ukraine wins promptly, it will take about five years to restore the economy to pre-war levels. However, if the war keeps consistent, the economic recession will continue for one to two years. In the long term, the economy will stagnate.
Ukraine's economic activity gradually resumed. In March 2022, 32% of Ukraine's companies suspended their operation, but the percentage went down to 17% in April. The production of Ukraine's steel industry decreased significantly at the begging of the war. The output recovered slightly in April.
Apart from the logistical interruption and negative market impact, curfew, port blockade, the chaos of payment, and occupied facility impacted the steel industry in Ukraine a lot as well.
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