FOCUS: Wuhan virus likely to dent Q2 demand for steel, iron ore in Asia

摘要

Sentiment in the seaborne iron ore and Asian steel markets have deteriorated amid a rapid spread of the 2019-nCoV - or Wuhan novel coronavirus - in China, which appears to have intensified in the last week. Market participants are anticipating a delayed restart of construction and manufacturing activity after the country’s Lunar New Year holiday, which has been extended until at least Sunday February 2. This has dampened their outlook for steel and iron ore demand. The Chinese government has imposed travel restrictions across large swathes of the country with high numbers of infections. Multiple cities in Hubei province - where Wuhan city is located - are under lockdown. This is expected to affect the movements of about 56 million people.