Why steel producers are relish about coronavirus?
Byline: Sani-e-Mehmood Khan
In less than 24 hours, a number of print and electronic-media has published reports/articles citing the impacts of Coronavirus on steel industry.
Bloomberg in its latest story has talked about the fate of big orders, and anticipated delays. As the day of 9th Feb, 2020 is approaching closer, some steel producers outside China are cheering, while inside China are the worries over anticipated delays.
China produces 55% of the world steel and Wuhan province is now a home to both the Coronavirus and 4% of the whole China's steel making that also meets around 20Mt internal demand on a week-to-week basis.
The Coronavirus has equally hit the headlines and the steel industry. Because it relies largely on commutation, medically fit human resources and mainly-transportation, the lockdown of over 60 million people in 13 cities of China is taking a serious tool over the steel production inside China.
The impasse in the supply of steel will hit the world on 9th day of Feb 2020, when China formally opens and steel-buyers across the world react to the misnomers of 'China Can't Disgorge Steel'.
This calamity impresses upon a need for the land-locked China to consider transposing Pakistan into frontline state and secures its business interest worldwide.On the other hand, the Government of Pakistan (GoP) has much more pressing need consider the proposals for revival of steel industry which have been shelved for years.Stakeholders of steel industry should sit with Minister...
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