Metallurgical Council of China Council for the Promotion of International Trade recently said that in view of the outbreak of the virus, some overseas metal products buyers have stopped receiving partial Chinese metal products.
The Metallurgical Council pointed out that some customers from Russia, Turkey, the Middle East, and North Africa have informed Chinese suppliers to stop receiving goods or request termination of procurement.
Meanwhile, international customers in India and other countries believed that Chinese companies couldn’t deliver on time, therefore, demand damages.
Affected by the Wuhan pneumonia, iron and steel export transportation has to face a difficult situation.
The Heavy transport load in Railway couldn’t guarantee the delivery.
Those unfinished contracts were facing the skyrocketing inland transportation costs. Although ports were operating, the work efficiency was reduced and the delivery time was affected as well.
There might be a surge in sea freight rates, according to the Council.
