Recently, the world iron and Steel Association issued the interim statement on steel demand and economic situation. Novel corona-virus pneumonia is a major threat to the downstream users of the new crown pneumonia. The demand for the downstream users is greatly reduced by the impact of closure of the city, supply chain disruption, confidence collapse, investment and construction projects and consumption activity. At the same time, the instability of financial markets and the fall in oil prices further weakened capital investment.
China's first China novel corona-virus pneumonia epidemic is now striving to achieve the full normalization of economic activities. The production and operation of China's downstream steel industry has basically recovered, the World Steel Association said in its interim note.