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Company news about Steel Supply Chain Disrupted by Chinese COVID-19 Outbreak

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Steel Supply Chain Disrupted by Chinese COVID-19 Outbreak

2020-02-27

Market participants, worldwide, are growing increasingly concerned about the coronavirus and the impact it will have on the global steel market.


Several carmakers, in Asia and Europe, recently reduced or halted production. Other manufacturers, dependent on the automotive sector, have also been negatively affected. The issue has been caused, in part, by restrictions in transportation in China. Deliveries of steel and manufactured goods are, subsequently, being delayed. Other industries are also experiencing difficulties in their supply chains. This has highlighted the growing tendency for companies, around the world, to rely on cheap component parts produced in China.

 

In recent days, several regions in China have begun lifting the controls, that had been put in place during the corona virus outbreak. However, it will take time for delayed orders to be produced and shipped to their relevant destinations.

 

Steel inventories in China are rising as many mills, across the country, continued to operate through the extended shutdown period. This will assist the ramp up in downstream industries. However, it could also result in a rush to offload any excess material into export markets. Reductions in global steel prices are, therefore, a distinct possibility in the coming weeks.

 

A prolonged corona virus outbreak could derail the tentative recovery that has been recorded in global steel prices, in early 2020

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News Details
Home > News >

Company news about-Steel Supply Chain Disrupted by Chinese COVID-19 Outbreak

Events

News

Cases

Steel Supply Chain Disrupted by Chinese COVID-19 Outbreak

2020-02-27

Market participants, worldwide, are growing increasingly concerned about the coronavirus and the impact it will have on the global steel market.


Several carmakers, in Asia and Europe, recently reduced or halted production. Other manufacturers, dependent on the automotive sector, have also been negatively affected. The issue has been caused, in part, by restrictions in transportation in China. Deliveries of steel and manufactured goods are, subsequently, being delayed. Other industries are also experiencing difficulties in their supply chains. This has highlighted the growing tendency for companies, around the world, to rely on cheap component parts produced in China.

 

In recent days, several regions in China have begun lifting the controls, that had been put in place during the corona virus outbreak. However, it will take time for delayed orders to be produced and shipped to their relevant destinations.

 

Steel inventories in China are rising as many mills, across the country, continued to operate through the extended shutdown period. This will assist the ramp up in downstream industries. However, it could also result in a rush to offload any excess material into export markets. Reductions in global steel prices are, therefore, a distinct possibility in the coming weeks.

 

A prolonged corona virus outbreak could derail the tentative recovery that has been recorded in global steel prices, in early 2020

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