Wuhan Iron and Steel, a subsidiary of China Baosteel has resumed 100pc production operations, according to a press release. The company is located at Wuhan, where the COVID-19 pandemic first began.
As China recovers from the challenges laid out due to COVID-19 outbreak, the iron and steel output in January outpaced the company’s production plan. Despite the outbreak reaching its peak in China in February, the company could maintain a stable supply to downstream enterprises and ensure delivery of client contracts. In Jan-Feb 2020, Wuhan achieved over 95pc of contract execution, almost the same rate before the pandemic. COVID-19 is likely to have a limited impact on iron and steel consumption, the chairman of China Baowu believes.