The steel industry was one of the industries that was not excluded from the disruption that shook the economies and industries of the world due to the global pandemic. 
The supply chain of steel, an essential metal used in the production of varieties of consumer products, was thrown into chaos due to the Covid-19 pandemic.
According to the Chief Economist of the Associated Builders and Contractors, Anirban Basu in an interview with CNBC, “Steel is certainly one of those examples of shortages, higher prices, and growing frustration among customers.” 
Records also shows that the demand for steel dropped at the beginning of the pandemic, but then quickly skyrocketed. At one point, there were records showing prices of steels at 300% above their pre-pandemic levels at more than $1,900 per ton. Before the pandemic, steel priced between $500 per ton and $800 per ton.
According to the World Steel Association, steel's global demand is expected to increase by 3.8% in 2021 over the demand recorded in 2020.
Steel is a key material in infrastructure projects. There are speculations that the Joe Biden led administration plans to inject billions into U.S. infrastructure which will be a huge boon to manufacturers of steel.