Trading activity came close to naught this week because of the recent extension of the 2019-nCoV coronavirus quarantine area
to all of Italy.
“The market is frozen. We are delivering orders placed in recent weeks, but no new orders are coming in,” a large Italian long steel producer said.
There is a slowdown in the construction industry as well, mostly related to transportation issues, sources told Fastmarkets.
“January and February were good months [for construction] but [issues related to the coronavirus measures] and the extended lockdown have started to cause problems in logistics. That has resulted in lower...