Omicron Covid-19 variant causing some jitters in Asian steel market

The Omicon variant of Covid-19 - which the World Health Organization designated as a “variant of concern” last Friday November 26 - is starting to shake up trade flows for the Asian steel sector.

While Omicron is a highly divergent variant with a high number of mutations, the WHO said there was still uncertainty about how strong the transmissibility of it is and whether current vaccines could protect against infection.
Concerns over its transmissibility have led to some Chinese authorities undertaking measures to restrict imports.
For instance, Inner Mongolia’s Erenhot city has suspended import operations for non-containerized cargoes via railway from November 28.
“Erenhot port has suspended imports by road transport since September, causing a sharp decrease of coking coal imports since then. The restriction on railway transportation will further reduce imports of coking coal to China,” a trader in the region said.

The daily number of coal trucks passing...

Published

Lee Allen

Jessica Zong

Alex Theo

Min Li

Tianran Zhao

Zihuan Pan

December 01, 2021

06:15 GMT

Shanghai, London