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Ford Motor and Toyota Motor have stopped their conveyors in China until February 10

Asia / Engineering

Automotive industry in China is stopped before the end of the first decade of February to limit the spread of coronavirus among the population. This has a negative impact on the demand for steel.

Ford Motor and Toyota Motor have stopped their conveyors in China until February 10

Ford Motor plans to resume production at its production sites in China not earlier than 10 February, said Wednesday a representative of the American automaker. The company with its joint venture partner Chongqing Changan Automobile decided to change its production plan after the local government in Chongqing and Hangzhou extended lunar new year holidays to limit the spread of coronavirus, which according to the latest data killed more than 130 people in China.

Japanese automaker Toyota Motor Corp. also announced the suspension of its operations in China until February 9, joining the other international companies that reduce activity in China because of an outbreak of pneumonia in this country.

"taking into account various factors, including recommendations from local authorities and stock situation of the components on the 29th of January we took the decision to suspend the operation of our businesses in China until the 9th of February," - said the press-Secretary of company Maki Niimi.

the world health organization (who) said that she is confident in China's ability to contain the coronavirus, but concern is growing, as health authorities report that the number of confirmed cases has increased to 1 5 to 459 974, and the number of deaths exceeded 130 people.

the Concern is also enhanced in connection with the impact of the virus on the second largest economy in the world: airlines are cutting flights in China - British Airways is the latest company announcing the suspension of flights and global companies restrict travel of their employees.

About 60 cases have been registered in 15 other countries, including the United States, France and Singapore. Airports around the world check passengers from China. In Germany contracted four people from one company that is considered to be one of the first cases of transmission from human to human outside of China.

Previously coalsalesthat analysts predict a sharp decline in steel prices on the world market due to the outbreak of coronavirus. They argue that the fall in steel production in China will be offset by the increase in smelting in other regions, but the demand for steel in Asia will fall sharply due to the stop of the machine-building enterprises and construction industry in China.

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