UBM - China's Steel Industry Likely To See Cutbacks As Stocks Rise Amid Coronavirus Crisis
By Stuart Burns
Not surprisingly, the steel sector in China is one of many going through acute uncertainty at the moment over fears the coronavirus spreading from Wuhan is still not under control. As a result, it is becoming increasingly apparent steel demand is going to be down for some time to come.
The popular wisdom was this virus would peak in a week or so, and a falling rate of infection would encourage relaxation of travel bans and some return to normality.
Steel mills have kept producing in the expectation the bounceback