The authorities in Kuwait have decided to impose a total curfew and full lockdown in the country for 20 days starting May 10, following the spike in new Covid-19 cases. The measure is expected to help curb the spread of the virus, but also to have a negative impact on trading activity in Kuwait’s local market, including the market for building materials and steel products.
Steel market players expect the lockdown to have a profound impact on local construction projects, which have already been facing certain delays. “Obviously it’s going to have a negative impact and will add more pressure than before. The work on all projects has stopped. That means no dispatch of material and no sales,” a Kuwaiti source told SteelOrbis.