‘Nervous’ Assore steels itself for coronavirus fallout
Chinese inventory of finished goods stokes SA firm’s worries about looming reduction in demand
Mining and trading company Assore, which produces iron ore, manganese and chrome, is closely watching the effect of the coronavirus on steelmaking inputs as Chinese inventories reach critical levels.
The virus has spread quickly beyond its origins in China and has Assore “very nervous about it”, chief executive Charles Walters says.
The tightly held company sells up to 75% of its product into China, the world’s largest producer of steel and stainless steel, the manufacture of which uses all of Assore’s key commodities...