Global Analysis from the European Perspective. Preparing for the world of tomorrow

Chinese warehouses see steel inventories reach record levels as demand reaches a standstill

China’s warehouses have racked up record levels of steel as the coronavirus outbreak has brought construction and manufacturing, which account for more than half of global demand for the material, to a standstill.

Steel makers and traders held a total of 34.3m tons of finished steel products – the highest level ever recorded – as of February 20, according to Shanghai-based industry data provider Mysteel. Source Capital

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