BHP says 2020 China steel output seen higher if no second wave of Covid-19

Steel production outside China could contract by a double-digit percentage in 2020, according to global miner BHP, but output in China may rise slightly in the same period if the country can avoid a second wave of Covid-19 infections.

According to the miner, steel makers from a variety of regions, including Europe, the Americas, India and Japan, have announced or signaled full shutdowns or curtailments in the June 2020 quarter.
"This reflects both logistical difficulties created by Covid-19, such as inter-state labor availability in India, as well as collapsing demand in downstream industries such as automotive, like in Europe, where at one stage every major auto plant on the continent was constrained," BHP said.
"Some of our customers are choosing to reduce production at their blast furnaces in the face of this demand shock," the company added.

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