Feb 25, 2020
China’s Steel Exports Stall over Coronavirus Hurdles
2020-02-26
According to a report in Global Times, Coronavirus has further cooled China's already chilling steel exports. Industry analysts predicted China's steel exports to slump by around 8 percent in the first quarter, as overseas orders are cancelled and cut-off logistics delay shipments. China Iron and Steel Association deputy director Mr Luo Tiejun said “Because of the epidemic, China's steel exports will see a significant decline in the first quarter, and February will see a relatively large fall in exports.”
SteelHome Founder & Preident Mr Wu Wenzhang said that “China's steel exports could fall by 1.5 million tonnes or 8 percent in the first quarter, as the government's anti-coronavirus measures, including closing of ports and highways, made it hard for steel companies to ship products overseas.”
Beijing Lange Steel Information Research Center research director Mr Wang Guoqing said “As far as we know, some overseas clients have canceled their steel-buying orders with Chinese companies because they worry about the possibility of the virus spreading through the delivery of the products. Also, as the prices of Chinese steel products fall continuously amid the epidemic, clients are unsatisfied with the previously settled price. Cancellation of orders is rare but the coronavirus epidemic is like a thorn that makes many overseas clients think twice before making orders.”
China's steel exports slumped by 7.3 percent YoY to more than 64 million tonnes in 2019
SteelHome Founder & Preident Mr Wu Wenzhang said that “China's steel exports could fall by 1.5 million tonnes or 8 percent in the first quarter, as the government's anti-coronavirus measures, including closing of ports and highways, made it hard for steel companies to ship products overseas.”
Beijing Lange Steel Information Research Center research director Mr Wang Guoqing said “As far as we know, some overseas clients have canceled their steel-buying orders with Chinese companies because they worry about the possibility of the virus spreading through the delivery of the products. Also, as the prices of Chinese steel products fall continuously amid the epidemic, clients are unsatisfied with the previously settled price. Cancellation of orders is rare but the coronavirus epidemic is like a thorn that makes many overseas clients think twice before making orders.”
China's steel exports slumped by 7.3 percent YoY to more than 64 million tonnes in 2019
Source: STEEL GURU
