Cisa gathers mills to discuss concerns of 16 mln tonne drop in China’s steel exports in 2020 - sources

China Iron & Steel Association (Cisa) forecasts the country could post a decline of 16 million tonnes in steel exports in 2020 amid the Covid-19 pandemic, sources told Fastmarkets.

The association convened with several major mills on May 12 to address concerns of the country’s rising imports against falling exports in the steel industry, two sources familiar with the meeting said.
Steel export business could drop by 16 million tonnes on an annual comparison, while imports could rise by 5-6 million tonnes year on year, Cisa said at the meeting.
In 2019, China exported 64.29 million tonnes of steel, down by 7.3% from 2018. Steel imported in 2019 totaled 12.30 million tonnes, down by 6.5% from a year ago, according to the Ministry of Industry and Information Technology.
An eastern China-based source said Cisa based its estimates for 2020 on changes in trade flow over the past few months.

From January to March this year, China imported 3.18 million tonnes of steel, up by 9.7% from a year ago. It also imported 1.73 million...


Miranda Song

May 20, 2020

11:02 GMT