China’s May flat steel exports plunge 28% on year
Jun 24, 2020 16:30
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China’s flat steel exports suffered a 27.5% on-year fall in May to reach 2.5 million tonnes, down from 4.1 million tonnes in April, according to the latest statistics from China’s General Administration of Customs (GACC) published on June 24. Chinese traders blamed the impact the pandemic continues to have on overseas flat-steel demand.
Last month’s result led China’s flat steel exports over January-May to decline by 12% on year to 15.4 million tonnes, steeper than the 8.2% on-year decline seen in the first four months, the statistics showed.
The tonnage shipped out in May was from orders signed a couple of months earlier, a