Three-week lockdown in Kuwait to put steel business in limbo
According to the official statement of the Centre for Government Communication, Kuwait announced a full curfew until 30th May 2020, as one of the measures to mitigate the impact of COVID-19, which is spreading rapidly; in another hand, it will put the local business in limbo.
As for the steel sector, especially construction, its sustainability will be destabilised since the work of related industries has been broken off. “All these things have a very negative impact on the market,” a market insider said. All plants are completely shut down, execution of the projects are put on hold since workers have to stay at home.
Yet, the local steel market players comprehend the importance of this decision.