Problems and Opportunities for Metal Industry after the COVID-19 Pandemic

Abstract

The COVID-19 pandemic has severely damaged the global economy system. In China, the metal industry is playing a key role in the reconstruction of the economy. This paper is using SWOT analysis to analyze the current situation faced by the metal industry in China after the pandemic and give corresponding advice for institutions. Strength part mainly focuses on analyzing the strong supply system in China enabling metal factories to recover the production in a short time period and also the natural advantages accrued from the huge population of China and abundant reserves of metal ores. Weakness part mainly discusses some long-lasting problems for Chinese factories, including the heavy pollution problem and the lack of competitiveness in the global market due to insufficient production technology. Opportunity part discussed two opportunities for the Chinese metal industry during the post-pandemic time. One is the high demand for metal products for reconstruction of the economy, the other one is the rise in the price level of metal products as a result of the breakthrough of the Russia-Ukraine War. Finally, the threats part mainly discusses the effect of pandemic on the metal industry. The suspension in the global supply chain restricts metal businesses from receiving raw materials and selling products. The intense competition in the metal market after the pandemic also raises the risk for metal businesses. To evidence the statement, this paper introduced data from China’s National Bureau of statistics and cited tables and graphs from the annual report from China’s National Bureau of statistics.