FOCUS: Second wave of Covid-19 infections will hit global commodities ‘even harder’

摘要

A second wave of Covid-19 infections will hit the global commodities markets even harder than the initial outbreak, market sources told Fastmarkets on Monday May 11. Five new infections have surfaced in the Chinese city of Wuhan where the outbreak first came to light, while 11 new cases have been recorded in Shulan city in Jilin province. And in the South Korean capital Seoul, the authorities are scrambling to trace thousands of people linked to a cluster of new cases, while Germany’s virus reproduction rate - the average number of people infected by one person - has increased to more than one following a resurgence in cases after lockdown measures were eased in its 16 federal states on April 20. The fear of a big resurgence in Covid-19 infections has soured sentiment among market participants, who mostly hold dour views about the impact of the outbreak on the key ferrous commodities markets in Asia.