[Ferro-Alloys.com] China's customs data showed that China’s finished steel exports over January-February 2020 fell 27% year on year to 7.811 million tonnes, the lowest combined total for the two month period since 2013. The sharp fall is attributed to a plunge in overseas orders placed in November and December, when strong domestic demand pushed up Chinese steel prices and encouraged Chinese mills to focus on the home market.
Some market sources expected steel exports in March and April to improve noticeably from the level seen in February. Mills have stepped up efforts to export more in March and April in a bid to ease supply pressure in the domestic market, where inventories have been soaring. The recovery in domestic steel demand has remained slow in March after being almost frozen by the coronovirus outbreak in February. （Source : STEELGURU）