Coronavirus Impact - IBISWorld's Analysts Constantly Monitor the Industry Impacts of Current Events in Real-Time - Report Writing - Economics Assignment Help

Assignment Task:

Coronavirus Impact 
IBISWorld's analysts constantly monitor the industry impacts of current events in real-time – here is an update of how this industry is likely to be impacted as a result of the global COVID-19 pandemic: 
• Only minor disruptions in iron ore mining volumes by the major players are expected in the industry in 2019-20 in relation to COVID-19. Some mining and processing disruptions and lower demand are projected to result in a 3.8% decline in iron ore mining volumes for the year. 
• Due to reduced demand from China for iron ore in response to lower steel manufacturing volumes, iron ore prices are anticipated to decline over 2019-20. This trend is expected to result in industry revenue declining for the year by 8.7%, to $83.4 billion. This decline is in contrast with a moderate revenue rise in the current report. 
• Flying restrictions and supply chain disruptions associated with COVID-19 will likely result in industry employment declining in 2019-20. 
Note: The content in this report is currently being updated to reflect the trends outlined above. 
 

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