Italy's novel coronavirus (2019-nCoV) outbreak has so far failed to disrupt steel output or shipments, but market participants are concerned it could have a negative impact on the wider economy and on steel demand, sources told Fastmarkets.
The Italian authorities have quarantined some regions in the north of Italy to try and contain the outbreak, with 11 towns and villages in the Lombardy and Veneto regions declared as red zones.
The Lombardy region's major city is the industrial hub of Milan and Veneto includes the tourist hot-spot Venice.
Steel producers located in the north of Italy have not experienced any major problems with either deliveries of the finished steel or raw materials, market sources said.
"With reference to the requests for reassurance received from many customers about the possible negative impact the spread of the coronavirus could have on the supply chain, the Marcegaglia group confirms that it does not have to date - and does not believe it will have in the near future - any critical issues arising from the current situation," Italian re-roller Marcegaglia said.
Another flat steel producer in the north...