9,367.77 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.56 USD USD USD
36.19 EUR EUR EUR
4.79 CNY CNY CNY
34.56 USD USD USD
36.19 EUR EUR EUR
1.00 CNY CNY/CNY CNY/CNY
41.35 TRY Interest Interest
74.24 USD Fossil Oil Fossil Oil
30.90 USD Silver Silver
4.09 USD Copper Copper
100.80 USD Iron Ore Iron Ore
365.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,982.57 TRY Gold (gr) Gold (gr)

Concern for a resurgence in the number of covid-19 cases in China

Due to the new cases seen in Beijing and Shanghai in China, some parts of the two cities were closed and large-scale testing studies were started.

Concern for a resurgence in the number of covid-19 cases in China

A few days after the easing of social restrictions in Beijing and Shanghai, large-scale Kovid-19 tests began to be applied as the epidemic started to spread again.

The discovery of new cases at a local bar in the capital ended the five-day series of zero cases, as a screening was launched in the Chaoyang district, where several headquarters and embassies are located.

In Shanghai, most of the city was closed on Saturday due to new cases coming from outside the quarantine zone and extensive testing was started.

It is feared that the rapid rise in the number of cases may cause a re-closure in cities due to the Zero Kovid strategy implemented by China and reduce the chances of a stable economic recovery.

According to the data of the Beijing Local Health Commission, the number of cases recorded in the city as 8 on Thursday increased to 61 on Friday. It was stated that 36 of the patients showed symptoms, but 25 of them were asymptomatic. All cases are associated with a bar in the Chaoyang district.

It is stated that at least 13 districts in Beijing have reported positive cases associated with the bar in question.

The city government suspended the activities of all entertainment venues in the area on Thursday, while sending over 4,400 people to quarantine facilities under public surveillance.

It is stated that the return of restrictions and large-scale test scans will cause dark clouds to form again over the outlook of the world's second largest economy.

According to the median of the poll conducted by Bloomberg among economists, while China is expected to grow by 4.5 percent in 2022 compared to the previous year, this figure is considered to be well below the 5.5 percent growth target set by the government.

While economic activity in China showed signs of recovery with the easing of restrictions in May, it is stated that the very fragile recovery may lose its effect if restrictions are brought back.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Swiss Steel Group board changes

Thursday, October 31, 2024

Per Elfgren appointed as new president of SSAB Special Steels

Wednesday, October 30, 2024

Analysis of last week's market situation

Monday, October 28, 2024

Salzgitter AG appoints Denecke-Arnold as new president of Salzgitter Flachstahl

Tuesday, October 22, 2024

EU steel industry sounds crisis alarm! EUROFER issues open letter

Thursday, October 17, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now