Centralized delivery of backlog orders is the main reason for steel export growth in March

China's steel imports and exports both showed a growth trend in March. On April 14, the General Administration of Customs released data showing that China exported 6.476 million tons of steel in March 2020, an increase of 2.4% year-on-year; from January to March, China exported 14.286 million tons of steel, a decrease of 16% year-on-year. In March, China imported 1.137 million tons of steel, an increase of 26.5% year-on-year; from January to March, China imported 3.178 million tons of steel, an increase of 9.7% year-on-year.

The concentrated delivery of backlog orders was the main reason for the growth of steel exports in March.

In February, the logistics transportation of the Chinese steel industry was blocked, transportation costs rose sharply, and the customs clearance of steel export ports was severely affected, making the backlog of steel export orders in the early stage prominent. Since March, with the resumption of production in various industries in China, the smooth recovery of material flow, and the steady growth of foreign trade, the policy effect has gradually appeared. This has led to an increase in China's steel exports.