Writing this mid-May sees the world still grappling with the impact of the COVID-19 pandemic, which will continue to affect mineral operations and consuming market sectors for the next few months, if not the remainder of the year, and a global economic recession is more than likely.
China was already getting back on track by mid-March, albeit initially hampered by internal logistics restrictions, and by July and August it is hoped that lockdown restrictions will have eased for most western operations.
Regarding market demand, right now it is a mixed bag: with some sectors undergoing a dramatic decline (e.g., oilfield — drilling minerals), others suffering what is hoped to be a temporary dip (e.g., steel — refractory, flux minerals; construction — building materials, glass minerals), while a few are actually seeing a boost (European Union do-it-yourself market (popular in lockdown) — paint minerals).
That said, as most companies have now taken action or are readjusting accordingly; they are beginning to take stock, look ahead and strategize for their emergence on the other side of this crisis.
