In August, China’s finished steel exports totaled 2.085 million mt, down 5.6 million mt or 72.94 percent year on year, totaling a value of $1.66 billion, down $7.12 billion or 81.07 percent compared with the same month last year. In addition, finished steel exports for the January-August period reached 13.24 million mt, down 28.56 million mt or 68.33 percent, amounting to a total value of $13.5 billion, down $28.35 billion or 67.74 percent year on year.
Meanwhile, China's finished steel imports in August totaled 1.59 million mt, up 263,700 mt or 19.81 percent year on year, totaling $1.71 billion in value, down $464 million or 21.3 percent compared with the same month last year. In addition, finished steel imports for the January-August period reached 11.47 million mt, up 447,900 mt or 4.06 percent, amounting to a value of $12.85 billion, down $2.92 billion or 18.53 percent year on year.
In August, the country’s net exports of finished steel amounted to 483,100 mt, with the trading deficit totaling a value of $50 million. The average export price was $800.29/mt, down $343.95/mt or 30.06 percent year on year. The average import price was $1,074.25/mt, down $561.24/mt or 34.32 percent year on year. The export price was $273.96/mt or 25.5 percent lower than the import price.