The Metal Industry is an integral part of economic activity in Greece and also on an international level. This industry has links with other sectors (engineering, construction and engineering projects, consumer goods, aeronautics, shipbuilding, automotive) and is the first link in the value chain. Key features of Metal industries are capital intensity, as they require large-scale investments in technology and equipment, with extremely long service life, the presence of highly skilled workers, as well as, especially in the case of basic metallurgical industries, high energy consumption.
A PwC study on the effects of Covid-19 on the operation of the 40 largest mining industries showed that many companies experienced a reduction in revenue, which averaged 6% which is mainly due to the impact of the pandemic on prices of metal. Companies specializing in the production of basic metals such as copper, zinc and nickel were most affected as their prices dropped in 2020, due to the lockdown and shutdown of factories in Europe, China and the USA. However, despite the decline in basic metals, the overall impact of the pandemic on the industry was manageable and highlighted the resilience of the extractive industries as well as the role they play in supporting the economy and local communities.