In Chinese culture, the home is where the parents live. But in order to celebrate Chinese New Year this year, many Chinese working in cities or other countries far from their place of birth may have to go through separation from their parents for the first time this year for the yuan, all for a common reason - the COVID-19 virus. For those unlucky enough, this might be the second time they miss their annual family reunion.
The first anniversary of the pandemic's invasion is remembered all over the world, and most Chinese people in or outside China do not travel back to their homes in mainland China to host the most important festival in Chinese culture with their flesh and blood, although China seems to be the only country that got its economy back on track.
“I haven’t seen my parents for a whole year because of the pandemic, but I will stay on vacation instead of returning to my hometown,” said a Chinese man from Singapore. She said she will not be returning to China for the CNY celebrations due to the need to remain in quarantine and due to the additional cost of hotel accommodation. “Hopefully I'll be back soon,” she said.
Bijinger, who has both a home and a job in Beijing, was happy to be free from the struggle, but at the same time he showed empathy for friends who chose not to return to their hometown.
“Beijing is usually a deserted city during the RMB, and there are always rows of empty seats if you walk in the parks or take the subway,” he said. "But this year I think the city will still be pretty noisy and most of my friends will be there, so I can just sit here and wait for my friends to ask me out!"
He explained that no one knows what measures the local government can take to restrict movement of the population after workers return. “None of my friends know for sure what restrictions they might face when reaching their hometowns, and they are worried that they might end up in 14 days of quarantine - either on their way back to their parents' house or after returning to Beijing. and the cost in money and time is simply too high, ”he said sympathetically.
Workers who chose not to return home this year have become a blessing in disguise for China's steel industry, as shorter RMB breaks for end users will lead to earlier than usual restarts of manufacturing plants such as auto and equipment manufacturers after breaking down. as well as on construction sites.
Thus, for Chinese steel mills and traders, the decline in daily steel trading ahead of the holidays apparently did not cause them much concern, and they did not show much hesitation in their decision to stick to the set steel prices. offered.
On February 9, the last full day before the RMB, the price of 20mm HRB400 rebar in China remained unchanged at RMB 4,358 / t ($ 670.5 / t), including 13% VAT as estimated by Mysteel, and has remained stable since early February despite a lack of deals.
The spot market for steel in China has become so eerily quiet that Mysteel decided not to even bother tracking the daily volume of steel trading in China starting February 8, as the daily trading volume of construction steel, including rebar, wire rod and coil, is among 237 Steel Productions worldwide. China dropped to 7,502 dpi by February 5, which is so low compared to the 100,000 dpi average under normal circumstances.
However, China's car and excavator sales in January rose from last year, in part due to a lower base number in January 2020, when the RMB holiday fell on January 24.
Last month, China's car sales totaled just over 2.5 million units, up 29.5% from last year, while the country's car production totaled about 2.39 million units, or 34.6% more. than last year, although both indicators decreased by 11.6% and 15.9% compared to the previous month, respectively.
“People can't travel, but they bought more cars,” the market analyst joked. "I'm wondering what's the use?" he said.
Excavator sales by the country's 26 manufacturers to both domestic and overseas markets nearly doubled last month, jumping 97.2% year-on-year to 19,601 units as demand for heavy equipment from domestic construction projects maintained a strong momentum. which began in the second quarter of 2020.
However, a Shanghai source was not at all surprised by the sharp increase.
“The whole country is building the same projects - infrastructure or others - and this could continue until the end of this year,” he said, adding, “for this, construction contractors also need to order excavators earlier, since many of their workers simply stay in the city, and work may resume.
