Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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February 2020 | Steel Forecaster

Coronavirus negates the promise of the US-China trade truce: International Flat Product Market Analysis

Containment measures were taken late, running into a season when it was acutely difficult to control or prevent travelling within the country.

Virus strikes the market

The agreement between the US and Chinese governments over trade is a joint undertaking not to make matters worse rather than a solution to the dispute, but it did dispel some of the gloom in markets that had resulted from the conflict. The detection, initially in the city of Wuhan, central China, of a new and virulent strain of virus of the corona family, has quickly cast gloom over Asian markets again. The disruption has deeply affected steel markets (among others) and not only in China. Efforts to deal with the epidemic have resulted in an extension of the usual annual shutdown of the market for the Lunar New Year holiday. With the holiday not over until the weekend of February 8-9, it is difficult to judge coil and plate prices, and where they are going in the immediate future, except that it is likely to...


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