WEBINAR: Covid-19 resurgence in Beijing unlikely to shake domestic ferro-alloys market
The recent resurgence of Covid-19 infections in Beijing is not expected to exert any significant impact on the domestic ferro-alloys market, delegates heard at Fastmarkets’ “Covid-19 and Asian ferro-alloys market” webinar on Tuesday June 30.
“I think [despite] the [new outbreak of Covid-19 cases] in Beijing, the influence [on the domestic ferro-alloys market] is quite slight, or [we can say there is almost] no impact on the supply and demand chains,” Geng Zuo, chief researcher of Minmetals Economic Research Institute, China Minmetals, said during the webinar.
There have been some new Covid-19 cases detected in Beijing since June 11, where there had been no locally transmitted cases for nearly two months. The origin of the new outbreak was traced to the Xinfadi wholesale food center in the southwestern part of the capital city.
The outbreak in Beijing reignited fears of another wave of virus infections across the country which might result in another stringent lockdown that had contributed to the contraction of China’s economy in the first quarter of this year.