China’s metal exporters face order cancellations, damage claims amid virus: trade group
Some overseas buyers of Chinese metal products have stopped accepting shipments amid the coronavirus outbreak, while other clients – including from India – are seeking damages due to a failure to deliver on time, a China trade body said on Tuesday.
Companies in places such as Russia, Turkey, the Middle East and North Africa have informed Chinese suppliers they are not accepting deliveries, or asked if they can suspend purchases, the Metallurgical Council of the China Council for the Promotion of International Trade said on its website.
At the same time, some international customers, such as from India, are seeing that Chinese companies cannot deliver on time and are requesting damage payments, the state-backed body added, without naming any of the firms or specific products involved.
China is the world’s biggest metals consumer but also the top exporter of some industrial metals, such as steel and aluminum.