Did the steel market effect by the coronavirus?of course it’s,Imagine there 14 billion people are stuck at home

42Crmo4 shaft hot rolled

Did the steel market effect by the coronavirus?

Of course it’s.The economic effect alot by coronavirus,especial cause by the industrial.Imagining there 14 billion people are stuck at home to fight for the coronavirus,all the business was stop,actually it’s not only effect the Chinese steel market,the coronavirus also effect the market all over the world.Let’s check some news from The economic news

Near-panic over a spreading coronavirus, sheared more than 1,000 points off the Dow Jones Industrial Average DJIA,-3.15% on Monday, with more and more companies having followed in Apple’s AAPL, -3.39% footsteps ,by warning of lower sales and supply disruptions that could cause even more damage in the next few months.

Just a few weeks ago, from the viral outbreak in China,most economic forecasters were predicting a small impact . Since then the virus has made its way to South Korea, Italy and other countries, raising the prospect that it will spread worldwide.

The U.S. economy has been shielded from direct impacts of the virus, but the side effects are becoming more evident each day. Declining travel. Fewer foreign tourists. Supply bottlenecks for automobile makers and tech companies. The closure in China of popular American retail chain stores such as Starbucks SBUX, -2.76% and McDonald’s MCD, -0.67% . And so on.

Goldman Sachs on Monday raised its estimate,the economic damage to the U.S. for the third time in as many weeks. The bank now predicts the virus will shave eight-tenths,that a percentage point from U.S. growth in the first quarter — double its original estimate. That’s a fairly big chunk of growth.

But I don’t think we need to too anxious,as the Chinese steel factory is going to resume,that meas the mould & engineering business is going to start working,once the industrail is resume,The economy will recover soon.

Ms Sharon Wan

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