Ferrous Metallurgy Production in Russia: How Will the COVID-19 Pandemic Affect?
DOI:
https://doi.org/10.24425/afe.2021.138667Abstract
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.References
[1] Ryabov, I.V. (2013). Institutional factors of economic development in the steel industry in the Russian Federation. Ekonomika: vchera, segodnya, zavtra. 7-8, 59-71.
[2] Shatokha, V. (2016). Post-Soviet issues and sustainability of iron and steel industry in Eastern Europe. Mineral Processing and Extractive Metallurgy. 126, 1-8.
[3] MIT Emerging Trends Report (2013). Cambridge, MA: Massachusetts Institute of Technology. Retrieved from http://2013.forinnovations.org/upload/MIT_Technology_Review.pdf.
[4] Cuhls, K. (2003). From forecasting to foresight processes. new participative foresight activities in Germany. Journal of Forecasting. 22, 93-111.
[5] Harrington, E.C.Jr. (1965). The desirability function. Industrial quality control. 21(1), 494-498.
[6] Profile. 2017/2018. World steel association. Retrieved from https://www.worldsteel.org/en/dam/jcr:cea55824-c208-4d41-b387-6c233e95efe5/worldsteel+Profile+2017.pdf.
[7] World Steel Association (2018). Monthly crude steel and iron production statistics. Retrieved from https://www.worldsteel.org/publications/bookshop
[8] Metalinfo.ru (2018). China continues to cut off excessive capacity. Retrieved from http://www.metalinfo.ru/ru/ news/100765.
[9] World Steel Association (2017). Steel Statistical Yearbook 2017. Retrieved from https://www.worldsteel.org/en/dam/ jcr:3e275c73-6f11-4e7f-a5d8-23d9bc5c508f/Steel% 2520Statistical%2520Yearbook%25202017_updated%2520version090518.pdf.
[10] World Steel Association (2017). 50 years of the World Steel Association. World Steel Association. Retrieved from https://www.worldsteel.org/en/dam/jcr:80fe4bd6-4eff-4690-96e6-534500d35384/50%2520years%2520of%2520worldsteel_EN.pdf.
[11] Dudin, M.N., Bezbakh, V.V., Galkina, M.V., Rusakova, E.P., Zinkovsky, S.B. (2019). Stimulating Innovation Activity in Enterprises within the Metallurgical Sector: the Russian and International Experience. TEM Journal. 8(4), 1366-1370.
[12] Kharlamov, A.S. (2012). Competitiveness issues of metallurgy. Position of Russia. Monograph. Moscow: Nauchnaya kniga.
[13] Golubev, S.S, Chebotarev, S.S., Sekerin, V.D. & Gorokhova, A.E. (2017). Development of Employee Incentive Programmes regarding Risks Taken and Individual performance. International Journal of Economic Research. 14(7), 37-46.
[14] Deloitte (2020). Overview of the ferrous metallurgy market. Retrieved from https://www2.deloitte.com/ru/ru/ pages/research-center/articles/overview-of-steel-and-iron-market-2020.html.
[15] Katunin, V.V., Zinovieva, N.G., Ivanova, I.M., Petrakova, T.M. (2021). The main performance indicators of the ferrous metallurgy of Russia in 2020. Ferrous metallurgy. Bulletin of Scientific. Technical and Economic Information. 77(4), 367-392. DOI: https://doi.org/10.32339/0135-5910-2021-4-367-392.
[16] National Credit Ratings (NCR) (2021). The metamorphoses of the pandemic. The forecast of recovery of the Russian economy branches as of June 2, 2021. Analytical Research. June 2, 2021. Retrieved from https://www.ratings.ru/ files/research// corps/NCR_Recovery_Jun2021.pdf 24.
[17] Mingazov, S. (2021). Russian metallurgists have doubled payments to the budget. Forbes. Retrieved from https://www.forbes.ru/newsroom/biznes/430855-rossiyskie-metallurgi-udvoili-vyplaty-v-byudzhet.
