China’s Virus Outbreak Upends Global Commodity Trade Flows
- Oil demand decreases; mines, smelters, refiners cut activity
- Raw-material supply chain disrupted worldwide; outlook gloomy
A worker wearing a facemask produces materials that will be used on protective suits at a textile factory in Nantong, China's eastern Jiangsu province.
Source: AFP via Getty Images
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Global commodities trade is being thrown into chaos by China’s coronavirus crisis, as the top user of raw materials receives the worst demand shock since the 2008 financial crisis.