OUTLOOK: It is hard to predict full impact of coronavirus in China, Irepas says

China may not be the big steady steel rebar buyer that most of us in the market thought it was, the International Rebar Producers & Exporters Association (Irepas) said on February 5 with regards the impact of the novel coronavirus (2019-nCoV).

In general, the demand outlook is still positive globally while developments in the automotive and industrial markets may help to support construction products, the association said. Moreover, inventory levels at present are moderate, it added.
But it is hard to predict the full impact of the coronavirus in China, it said.
After the local authorities extended the Lunar New Year break (starting on January 24) in an effort to contain the spread of the virus that originated in central China, traders in Beijing went back to work on Monday February 10.

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