Covid has not ripped through China, but lockdowns have ripped apart its economy. The most productive areas of the country have been hit by lockdowns and other regions cannot get the goods they need to operate normally either. Chinaʼs top leaders have vowed to stick to dynamic zero Covid policies, but have been forced into raising the priority of economic reopening as the extent of the economic crisis became apparent.
For steel markets the questions is: has China done enough to stabilise the economy to make up for lost demand in Q2. This issue looks at promised financing and investment, as well as other supportive policies currently in place.