According to S&P Global Ratings Industry Top Trends 2021: Metals and Mining report, the pandemic had a significant impact on industrial activity, global steel markets, and downstream producers in 2020. Although the world is still emerging from the pandemic, and far from resuming full-blown industrial production, a vastly improving outlook for most metals is expected going into 2021.

However, the road to the recovery and the potential for prolonged economic weakness remain a key source of uncertainty. This could undermine growth, weaken market sentiment, and increase volatility in commodity prices.

Understand what to look out for in 2021:

• Ratings trends and outlook on global metals and mining sector
• Shape of recovery for the sector
• Credit metrics and financial policy
• Industry outlook including key risks and opportunities
• Industry forecasts including revenue, capex growth, cash flow, return on capital employed and debt paying abilities