Steel industry of China in 2020 and the world crisis

2021 ◽  
Vol 77 (3) ◽  
pp. 251-261
Author(s):  
N. G. Zinov’eva
Keyword(s):  
Iron Ore ◽  
Steel Production ◽  
World Market ◽  
Added Value ◽  
Domestic Consumption ◽  
Active Growth ◽  
World Crisis ◽  
The World ◽  
Market State ◽  
Negative Effect

The crisis of the world economic system, erupted in the end of 2019 against the background of COVID-19 expansion resulted in considerable drop of the world steel products production practically in all the countries of the world. Decrease of steel production began in the IIH of 2019, mainly in July-August of 2019 and further in March-April of 2020. In the IQ of 2020, the world steel production declined by 1.4% down to 443 million tons comparing with the analogue period of 2019. At that China demonstrated growth by 1.2%, while in the EC counties the decrease accounted for 10%, in North America counties – by 4%, in South America countries – 7.1%, other countries of Asia, Africa and CIS also demonstrated the decrease. The dynamics of prices variation on some steel products, iron ore presented, which give the idea of the market state and tendencies of its variation in 2019–2020. In China in April of 2020 after cancellation of quarantine measures, a restoration of the industry began, the economy of China transferred from decline to growth and an active growth of domestic consumption of steel products got a significant effect not only on the volume of its production, but also made corrections in China’s behavior at the world market. As a result of year 2020, steel production in China exceeded one billion tons – 1054.4 million tons, which is 5.2% more comparing with 2019. Production of finished products increased also, import of iron ore into China in 2020 accounted for 1172 billion tons, which is 9.5% more comparing with 2019. As a result of 2020, the steel companies of China exported 53.7 million tons of steel, which is 16.5% lower than the 2019 index. Further the Chinese export will be contributed by an increase of demand at the world market and cancellation of restriction measures, imposed by some countries. While at all the regions of the world the crisis resulted in termination of some projects or their delays, in China against the background of the pandemic, several companies did nor cancel their investment plans as well as construction and commissioning of new plants was going on. Under conditions of the crisis the support of the state was very important, since the demand declined in all the industries, therefore many countries took urgent measures for stabilization of economies and support of population. Within the period of the pandemic, the China government bodies elaborated some measures to overcome its negative effect on the economy. In particular, the measures include allocation of money to stimulate the domestic consumption of steel products. In total in 2020 it was planned to invest about 800 billion of yuan (about USD 115 billion) in capital assets. According to forecasts, in 2021 comparing with 2020, the production and apparent consumption of steel in China will increase approximately by 2%, actual demand will increase by higher rate. The steel products with high added value will be in higher demand, including flat rolled products, rolled products of special steels, seamless pipes etc.

The Relationship between China's Export-led Growth and Its Double Transition of Demographic Change and Industrialization

2011 ◽  
Vol 10 (2) ◽  
pp. 52-76 ◽  
Author(s):  
Yang Yao
Keyword(s):  
Structural Change ◽  
Demographic Transition ◽  
Slow Growth ◽  
World Market ◽  
Domestic Consumption ◽  
Time Period ◽  
Double Transition ◽  
The World ◽  
New Thinking ◽  
The Relationship

China's export-led growth is rooted in China's double transition of demographic transition and structural change from industrialization. Accession to the WTO has allowed China to fully integrate into the world system and capture the gains of its comparative advantage in abundant labor supply. Structural change has a dampening effect on the Balassa–Samuelson effect so as to sustain China's competiveness in the world market. The double transition will take 10 to 15 years to finish; in this time period, China will likely continue its fast export-led growth. Along the way, export-led growth has also created serious structural imbalances highlighted by underutilized savings, slow growth of residential income and domestic consumption, and a heavy reliance on investment. This linkage requires new thinking when global imbalances are to be tackled.

scholarly journals ФІНАНСОВЕ ЗАБЕЗПЕЧЕННЯ СТИМУЛЮВАННЯ РОЗВИТКУ ТРУДОВОГО ПОТЕНЦІАЛУ В УМОВАХ АКТИВІЗАЦІЇ МІГРАЦІЙНИХ ПРОЦЕСІВ

2020 ◽  
pp. 229-237
Author(s):  
Liudmyla Mekshun ◽  
Maksym Zabashtanskyi
Keyword(s):  
National Economy ◽  
Financial Support ◽  
World Market ◽  
Added Value ◽  
High Tech ◽  
Innovative Product ◽  
Current State ◽  
Fixed Assets ◽  
The World ◽  
Labor Potential

The article analyzes the current state and prospects of financial development of labor potential in Ukraine. The comparative analysis of financial support of labor stimulation in the leading countries of the world is carried out, the factors of stimulating and limiting influence on a condition of labor potential of the country are grouped. It is determined that the key problems hindering the development of labor potential in the country are the low level of development of the national economy, associated with a significant backlog of technological capabilities, moral and physical depreciation of fixed assets, the inability to create an innovative product with high added value. It is substantiated that in order to develop the national economy, the key condition is the creation of high-tech production that can ensure the competitiveness of its own products on the world market, which can be done only with adequate financial support to stimulate labor potential. It is proved that adequate financial support for labor incentives should be a key condition for the generation and preservation of labor potential necessary for the effective functioning of the national economy.

scholarly journals Steel industry of the world and of Russia in pandemic environment

2020 ◽  
Vol 76 (7) ◽  
pp. 657-664
Author(s):  
N. G. Zinov’eva
Keyword(s):  
Raw Materials ◽  
Steel Production ◽  
World Market ◽  
The World ◽  
Steel Consumption ◽  
The Usa ◽  
Chinese Export ◽  
Cis Countries ◽  
In Cis ◽  
Production Dynamic

The crisis of the world economy, caused by coronavirus pandemic early 2020, resulted in a recession in demand for steel products, decrease of ferrous metals production. Dynamic of steel production by world regions and separate countries in 2019 and by 4 months of 2020 is presented. Results of IQ-2020 comparing with the analogue period of 2019, published by WSA, showed more than 10% production drop in such countries like Italy, Spain, Belgium, Taiwan, Venezuela and other, less than 10% production drop in the USA, Russia, Japan, India, Germany, Vietnam. Total decrease of production in IQ-2020 in Top-20 countries accounted for about 1%. In Russia, as per Rosstat data, production of steel and rolled products in the IQ-2020 was less by 1.1% comparing with the volume of IQ-2019. Dynamic of prices within the period from April of 2019 till April of 2020 presented for iron ore raw materials, steel billets, rebars, HRC and CRC at the world market. The decrease of steel rolled products import in the USA in January-April of 2020 by 5,8 million tons was noted, which is 28,2 % lower than the volume of January-April 2019. EC countries in IQ- 2020 decreased export of steel rolled products by 11% down to 4.51 million tons, comparing with IQ-2019, import decreased by 20.6% down to 5.7 million tons. China in January-April of 2020 comparing with January-April of 2019 decreased export of steel by 11.7% down to 20.6 million tons, and increased import by 7.4% up to 4.2 million tons. It was noted, that demand increase at the domestic market of China and tariff-wall, imposed by the USA, EC countries and other countries contribute to the decrease of Chinese export. In 2020 further decrease of steel products demand is expected by 6.4%. In EC countries the metal products consumption due to estimation will decrease by 15.8%, in developing countries (without China), as expected, by the results of 2020 the indices will deteriorate by 11.6%. Consumption of steel products in China in 2020 will increase by 1%. In CIS countries and Russia the decrease of steel consumption in 2020 will be about 10%.

Earthquake Hazard Mitigation: The Need for Human Resources Development and Research

1990 ◽  
Vol 6 (2) ◽  
pp. 265-276
Author(s):  
Robert J. Kuntz
Keyword(s):  
Seismic Design ◽  
Seismic Isolation ◽  
New Technologies ◽  
Earthquake Hazard ◽  
World Market ◽  
Human Resources Development ◽  
Public And Private ◽  
The World ◽  
Negative Effect ◽  
Legal Constraints

Most of California's population and industry are located in zones of high seismicity, and the Federal Emergency Management Agency (FEMA) estimated that a 7.5 to 8.3 Richter magnitude earthquake in an urban area could cause up to $60 billion in damage (1). Such an earthquake could cripple the state's public and private economies, and, as California's economy is the sixth largest in the world, have a negative effect on the world market. Building practices in California offer only minimal protection from seismic damage, however new technologies, such as seismic isolation, can mitigate damage and are becoming available to government and industry. There is a need for design professionals, building officials, planners, and building owners to become aware of these new technologies, and the legal constraints to their use, and incorporate them into practice, and for engineering and architectural educators to include new seismic design technologies in undergraduate curricula.

scholarly journals Branding in Serbian Rural Tourism

2012 ◽  
Vol 4 (11) ◽  
pp. 671-676 ◽  
Author(s):  
Milena Vukić ◽  
Marija Kuzmanović .
Keyword(s):  
World Market ◽  
Rural Tourism ◽  
Added Value ◽  
Know How ◽  
The Road ◽  
Universal Principles ◽  
New Destination ◽  
The World ◽  
New Challenges ◽  
Global World

To become competitive in the global world market, as a relatively new destination for rural tourism, we need to know how to use existing resources and to prove capable of coping with new challenges. The road to this great accomplishment goes through branding, because only with the help of branding it is possible to achieve recognition of Serbian rural product. That, first, implies a reformatory process of searching for our renewed that is redesigned identity, networking of various industries, as well as their integration. In such a context, rural tourism of Serbia should not be isolated within a particular segment of the whole, rather it should master those universal principles upon which the world is organized today, which is a unique and dynamic tourist product, and should be gradually turned into a brand thanks to its added value.

scholarly journals FORMATION OF COMPETITIVE ADVANTAGES IN THE PROCESS OF TRANSFORMATION OF THE STRUCTURE OF NATIONAL ECONOMY

2021 ◽  
pp. 239-251
Author(s):  
Vasilina Iliukhina ◽  
Keyword(s):  
Economic Policy ◽  
National Economy ◽  
Chemical Engineering ◽  
World Market ◽  
Green Energy ◽  
Raw Material ◽  
Added Value ◽  
High Tech ◽  
Competitive Advantages ◽  
The World

The article investigates the process of formation of competitive advantages in the context of transformation of the structure of the national economy. One of the main priorities of economic policy of modern countries is to build a competitive, socially oriented economy that can successfully integrate into the world economic space. To ensure sustainable development and counter negative external influences, strategies are developed and implemented aimed at creating competitive advantages and, consequently, increasing the country's international competitiveness. The issue of transforming the structure of the national economy is urgent, as the level of lagging behind the development of the domestic economy from neighboring countries is similar and the country's raw material specialization is consolidating in the world market, which in turn preserves low living standards. Indicators of economic development show that without radical changes in economic policy, the lag in the development of the Ukrainian economy will only increase. The formation of competitive advantages in the context of the modern structure of the economy inherent for a large European country should be based on the economic specialization of the country in industries and activities that create greater added value, such as processing industry, chemical, engineering, IT, green energy, pharmaceuticals and other high-tech industries, industries of higher technological modes. The role of public-private partnership in the formation of effective economic policy aimed at forming the competitive advantages of the national economy is important.

WORLD EGG MARKET: TRENDS AND PROSPECTS FOR UKRAINE

2017 ◽  
Author(s):  
Svitlana Sendetska ◽  
Keyword(s):  
Growth Rate ◽  
Egg Production ◽  
World Market ◽  
Gradual Transition ◽  
Active Growth ◽  
The Road ◽  
The World ◽  
Regional Location ◽  
Production Technologies ◽  
Chicken Eggs

The purpose of the article is to analyze current trends in the world market of chicken eggs, assess the place of our country in this market and determine possible prospects for the development of the Ukrainian egg market. The article considers the reasons for the active growth in world market of chicken eggs, calculates its growth rate, identifies the regions of the major producer location and countries with the largest production volumes. The growth rates of production at the largest producers are analyzed, the leading countries of the industry with high, moderate and negative dynamics of egg production growth are determined. The study identified the main egg sellers, their regional location, the growth rate of their export deliveries and Ukraine's place among the largest exporters. The vector of main part in the chicken eggs import and their main importers is determined. It has been studied that the Asian market is the largest, both in terms of production and consumption, where eggs are an important part of many oriental diets. As a result, China, Japan, Hong Kong and Kuwait are among the five largest consumers of eggs per capita. It is determined that the global growth of egg production is accompanied by the active introduction of technological innovations that optimize production parameters, improve the conditions of keeping and feeding poultry. It is investigated that domestic poultry farming is dependent on foreign selection, which makes the Ukrainian egg business vulnerable. It is determined that egg consumers and trade intermediaries, especially European ones, are concerned about the conditions of poultry keeping and are gradually abandoning products obtained from caged hens. Ukrainian egg producers are only at the beginning of the road to cage-free keeping poultry keeping. It has been studied that in order to maintain the leading positions on the world egg market, Ukrainian producers need to develop their own breeding base, introduce modern production technologies, make a gradual transition to cage-free poultry keeping, use ecological packaging suitable for recycling. Adherence to the last two recommendations is especially important for the development of export opportunities of the Ukrainian egg business in the European market.

scholarly journals Digital Economy: Problems and Prospects of Development in Ukraine

2019 ◽  
Vol 8 (3C) ◽  
pp. 226-229 ◽  
Keyword(s):  
Developing Countries ◽  
Industrial Revolution ◽  
Digital Technologies ◽  
World Market ◽  
Digital Economy ◽  
Added Value ◽  
Daunting Task ◽  
The World ◽  
Challenges And Opportunities ◽  
Technical Issues

This paper aims to analyze the challenges and opportunities that are facing developing countries in the process of creating the digital economy. Digital economy is characterized by high added value, faced with numerous obstacles, many developing countries cannot adequately respond to the demands of the digital economy. The digital economy is also referred to as the Internet Economy, New Economy, or Web Economy. The largest players in the world market are digital economy companies – Apple, Google, Microsoft, Amazon and others, which are among the most expensive companies in the world in terms of market capitalization. The Fourth Industrial Revolution is rapidly driving transformational disruption across every sector. An estimated 70% of new value created in the economy over the next decade will be based on digitally enabled platforms. Digital technologies should be a driving force for innovations in the Ukrainian economic system. Digitalization of the economy and life spheres will create new jobs, make Ukrainian business more competitive and less resource oriented, attract new investors. Digital transformation is a daunting task. Countries that have reached the highest level of digital maturity have had to deal with complex cultural, organizational, and technical issues, and only counting of all these factors have made these transformations successful. The widespread use of digital technologies, extensive digital infrastructures are contributing to the economy digitization.

scholarly journals Problems and Prospects of the Helium Industry in Russia

2021 ◽  
Vol 31 (4) ◽  
pp. 448-457
Author(s):  
Genrietta Rusetskaya ◽  
Alexander Yuryshev
Keyword(s):  
Natural Gas ◽  
Oil And Gas ◽  
World Market ◽  
Added Value ◽  
Processing Plant ◽  
Gas Industry ◽  
Gas Processing ◽  
Russian Economy ◽  
The World ◽  
The Cost

The transition to an innovative way of development in the gas industry is associated with deep, comprehensive processing of natural gas, the start-up of manufacturing products with high added value. In terms of proven reserves of natural gas, Russia ranks number one in the world, the demand is constantly growing both at the domestic market and for exports. Natural and associated petroleum gases of many oil and gas condensate fields in Russia are multicomponent systems that contain a number of components important for the gas chemical industry (ethane, propane, butane, etc.). The most valuable of these is helium. The purpose of this work is to study the problems and prospects for the development of the helium industry in Russia and in the world. Using the methods of economic analysis, generalization and synthesis, the authors estimated the volume of reserves of helium-saturated gases in the fields of the country and Eastern Siberia, the state of helium production, the potential for using helium in the sectors of the Russian economy, the possibility and conditions of competitive entry into the world market. As a result, they detected Russia’s technological inferiority in a number of industries, coming from the low demand for helium, the location of potential consumers far from production centers, the high cost of helium production, the lack of reliable methods of its transportation, etc. At the same time, full-scale helium demand satisfaction of Russian industries is associated with the construction of the Amur Gas Processing Plant. The demand for helium in the countries of the world is constantly growing, an increase in consumption is observed in traditional industries and in the field of innovative technologies. The US dominance in the production of helium is gradually declining due to the depletion of some deposits. The authors make a conclusion that after 2030 Russia can satisfy domestic consumption of helium to bring the industry to an effective economic and environmental level and, while reducing the cost of production, become a major participant in its world market.

scholarly journals Justification of the method of determination of the border overburden ratio

2020 ◽  
Vol 166 ◽  
pp. 02005
Author(s):  
Serhii Joukov ◽  
Serhii Lutsenko ◽  
Yulian Hryhoriev ◽  
Maxim Martyniuk ◽  
Volodymyr Peregudov
Keyword(s):  
Iron Ore ◽  
World Market ◽  
Raw Material ◽  
Open Pit ◽  
Processing Plant ◽  
Material Base ◽  
Opencast Mining ◽  
World Markets ◽  
The World ◽  
The Impact

The economic efficiency of the enterprise and the length of its operation, the full utilization of mineral reserves and the total cost of operation depend on the selected depth and boundaries of opencast mining. In such conditions of the deposits’ development it is necessary to evaluate the capabilities of the raw material base for the further development of the mining enterprise. The basis for determining of the border overburden ratio is on the condition that the price of manufactured marketable output of the designed enterprise should not exceed the price of the same marketable output in the world market. The realization of this condition is achieved analytically. This takes into account the impact of the rate of return on the final depth of the designed open pit. A new method of determining of the border overburden ratio is developed, which ensures the competitiveness of iron ore concentrate in the world market. The value of the border overburden ratio is developed for the Pershotravnevij open pit of the Northern mining and processing plant, depending on the situation of the iron-containing products’ prices, which ensures the competitiveness of marketable iron-ore output in the domestic and world markets.

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