SteelOrbis Shanghai
Characterized by decreased quantities and increased prices, China's finished steel export volume for the first quarter of 2008 slipped by 19.5 percent year on year while posting a rise of 7.3 percent in revenues earned. The data for the first quarter confirm that Chinese steel export growth has been curbed effectively.
In March, China's finished steel exports totaled 4.16 million mt, down 1.22 million mt or 22.6 percent year on year, totaling a value of $3.672 billion, up $281 million or 8.3 percent compared with the same period last year. In addition, finished steel exports for the January-March period reached 11.38 million mt, down 2.75 million mt or 19.5 percent, amounting to a total value of $9.907 billion, up $678 million or 7.3 percent year on year.
Meanwhile, China's finished steel imports in March totaled 1.5 million mt, down 70,000 mt or 4.5 percent year on year, totaling $2.001 billion in value, up $146 million or 7.9 percent compared with the same period last year. In addition, finished steel imports for the January-March period reached 4.17 million mt, down 100,000 mt or 2.3 percent, amounting to $5.378 billion, up $440 million or 8.9 percent year on year.
In March, the country's net exports of finished steel totaled 2.66 million, down 1.14 million mt or 30 percent year on year. In the first quarter, net exports reached 7.21 million mt, down 2.65 million mt or 26.9 percent. Due to the lower export levels, domestic supply increased by 2.65 million mt in the January-March period.
The breakdown of China's steel imports & exports in March is as follows:
Large profile exports in March stood at 293,000 mt, down 92,000 mt or 23.9 percent year on year, totaling a value of $216 million, up $32 million or 17.4 percent compared with the same period last year. The average export price was $737.2/mt, up $259.28 or 54.3 percent year on year. Total large profile exports in Q1 reached 643,000 mt, down 281,000 mt or 30.4 percent, amounting to a value of $454 million, up $22 million or 5.1 percent year on year. The average export price for profiles in the Q1 period was $706.07/mt, up $238.54 or 51 percent.
Large profile imports in March came to 24,000 mt, up 2,000 mt or 9.1 percent year on year, totaling $19.97 million in value, up $4.18 million or 26.5 percent compared with the same period last year. The average import price was $832.08/mt, up $114.35/mt or 15.9 percent year on year. Total Q1 imports of the subject product reached 61,000 mt, down 4,000 mt or 6.2 percent, amounting to $51.88 million in value, up $3.4 million or seven percent year on year. The average price in the Q1 period was $850.49/mt, up $104.64/mt or 14 percent.
China's medium profile export volume in March reached 36,000 mt, down 72,000 mt or 66.7 percent year on year, totaling a value of $29.98 million, down $22.85 million or 43.3 percent compared with the same period last year. The average export price was $832.78/mt, up $343.61/mt or 70.2 percent year on year. Total Q1 exports reached 123,000 mt, down 145,000 mt or 54.1 percent, amounting to $93.65 million, down $38.59 million or 29.2 percent year on year. The average export price in this period was $761.38/mt, up $267.95/mt or 54.3 percent.
Medium profile imports in March amounted to 6,000 mt, up 3,000 mt or 9.1 percent year on year, totaling $6.48 million, up $3.17 million or 95.8 percent compared with the same period last year. The average import price was $ 1,080/mt, down $23.33 or 2.1 percent year on year. Total Q1 imports reached 19,000 mt, up 7,000 mt or 58.3 percent, amounting to $21.39 million, up $10.28 million or 92.5 percent year on year. The average import price for the subject product in the Q1 period was $1,125.79/mt, up $199.96/mt or 21.6 percent.
Steel bar exports in March reached 509,000 mt, up 204,000 mt or 66.9 percent year on year, totaling $409 million, up $161 million or 154 percent compared with the same period last year. The average export price was $803.54/mt, up $275.67/mt or 52.2 percent year on year. Total Q1 exports of the product in question reached 1.083 million mt, up 347,000 mt or 47.1 percent, amounting to $865 million, up $462 million or 114.6 percent year on year. The average export price in Q1 was $798.71/mt, up $251.16/mt or 45.9 percent.
Bar imports in March came to 41,000 mt, up 6,000 mt or 17.1 percent year on year, totaling $74.66 million, up $19.15 million or 34.5 percent compared with the same period last year. The average import price was $1,820.98/mt, up $234.98/mt or 14.8 percent year on year. Total Q1 bar imports reached 105,000 mt, up 16,000 mt or 18 percent, amounting to $195.28 million, up $55.56 million or 39.8 percent year on year. The average price in this period was $1,859.81/mt, up $289.82/mt or 18.5 percent.
Rebar exports in March stood at 111,000 mt, down 639,000 mt or 85.2 percent year on year, totaling $75 million, down $232 million or 75.6 percent compared with the same period last year. The average export price was $675.68/mt, up $266.35/mt or 65.1 percent year on year. Total exports in Q1 reached 356,000 mt, down 1.371 million mt or 79.4 percent, amounting to $226 million, down $466 million or 67.3 percent year on year. The average price in this period was $634.83/mt, up $234.14/mt or 58.4 percent.
Rebar imports in March stood at 3,000 mt, down 2,000 mt or 40 percent year on year, totaling $1.37 million, down $950,000 or 40.9 percent compared with the same period last year. The average import price was $456.67/mt, down $7.33/mt or 1.6 percent year on year. Total Q1 imports reached 10,000 mt, down 5,000 mt or 33.3 percent, amounting to $4.93 million, down $3.11 million or 38.7 percent year on year. The average price in this period was $493/mt, down $43/mt or eight percent.
China's wire rod exports in March totaled 264,000 mt, down 314,000 mt or 54.3 percent year on year, totaling $189 million, down $58 million or 23.5 percent compared with the same period last year. The average export price was $715.91/mt, up $288.57/mt or 67.5 percent year on year. Total exports in Q1 reached 750,000 mt, down 683,000 mt or 47.7 percent, amounting to $493 million in value, down $117 million or 19.2 percent year on year. The average price in this period was $657.33/mt, up $231.65/mt or 54.4 percent.
Wire rod imports in March amounted to 45,000 mt, up 22,000 mt or 32.8 percent year on year, totaling a value of $58.4 million, up $1.07 million or 1.9 percent compared with the same period last year. The average import price was $1,297.78/mt, up $442.11 or 51.7 percent year on year. Total imports in Q1 reached 133,000 mt, down 50,000 mt or 27.3 percent, amounting to $151.15 million, up $170,000 or 0.1 percent year on year. The average price in this period was $1,136.47/mt, up $311.44/mt or 37.7 percent.
China's medium plate exports in March reached 820,000 mt, up 207,000 mt or 33.8 percent year on year, totaling $742 million in value, up $374 million or 101.6 percent compared with the same period last year. The average export price was $904.88/mt, up $304.55/mt or 50.7 percent year on year. Total Q1 exports reached 2.194 million mt, up 571,000 mt or 35.2 percent, amounting to a total value of $1.791 billion, up $846 million or 89.5 percent year on year. The average price in this period for exports of the product in question was $816.32/mt, up $234.06/mt or 40.2 percent.
Medium plate imports in March climbed to 120,000 mt, up 29,000 mt or 31.9 percent year on year, totaling $174.49 million, up $48.34 million or 38.3 percent compared with the same period last year. The average import price was $1,454.8/mt, up $68.54/mt or 4.9 percent year on year. Total Q1 medium plate imports came to 303,000 mt, up 28,000 mt or 10.2 percent, amounting to $440.67 million, up $107.02 million or 32.1 percent year on year. The average import price in this period was $1,454.36/mt, up $241.09/mt or 19.9 percent.
China's HR coil export volume in March stood at 705,000 mt, down 223,000 mt or 24 percent year on year, totaling a value of $518.27 million, down $19.83 million or 3.7 percent compared with the same period last year. The average export price was $735.13/mt, up $155.28/mt or 26.8 percent year on year. Total Q1 HR coil exports reached 1.896 million mt, down 353,000 mt or 15.7 percent, amounting to $1.35825 billion, up $85.57 million or 6.7 percent year on year. The average HR coil export price in this period was $716.38/mt, up $150.49/mt or 26.6 percent.
HR coil imports in March came to 173,000 mt, down 59,000 mt or 25.4 percent year on year, totaling a value of $183.68 million, down $46.51 million or 20.2 percent compared with the same period last year. The average HR coil import price was $1,061.73/mt, up $69.53/mt or seven percent year on year. Total HR coil imports in Q1 reached 493,000 mt, down 173,000 mt or 26 percent, amounting to $512.41 million in value, down $294.93 million or 36.5 percent year on year. The average import price in this period was $1,039.38/mt, down $172.84/mt or 14.3 percent.
China's CR coil export volume in March reached 190,000 mt, up 43,000 mt or 29.3 percent year on year, totaling $199.6 million, down $50.77 million or 20.3 percent compared with the same period last year. The average CR coil export price was $1,050.53/mt, down $652.67/mt or 38.3 percent year on year. Total Q1 exports for this product reached 509,000 mt, up 31,000 mt or 6.5 percent, amounting to $606.73 million, down $168.51 million or 21.7 percent year on year. The average export price in this period was $1,192/mt, down $430.22/mt or 26.5 percent.
CR coil imports in March stood at 384,000 mt, down 16,000 mt or four percent year on year, totaling $360.42 million in value, up $13.01 million or 3.7 percent compared with the same period last year. The average import price was $938.59/mt, up $70.06/mt or eight percent year on year. Total Q1 CR coil imports reached 1.126 million mt, up 64,000 mt or six percent, amounting to a value of $1.00523 billion, up $109.83 million or 12.3 percent year on year. The average import price in this period was $892.74/mt, up $49.61/mt or 5.9 percent.
China's HR narrow strip exports in March came to 29,000 mt, down 133,000 mt or 82.1 percent year on year, totaling $28.71 million, down $47.84 million or 62.5 percent compared with the same period last year. The average export price was $990/mt, up $517.47/mt or 109.5 percent year on year. Total HR narrow strip exports in Q1 reached 110,000 mt, down 289,000 mt or 72.4 percent, amounting to a total value of $94.25 million, down $95.65 million or 50.4 percent year on year. The average export price in this period was $856.82/mt, up $380.88/mt or 80 percent.
HR narrow strip imports in March stood at 11,000 mt, down 2,000 mt or 15.4 percent year on year, totaling $40.36 million, up $1.94 million or five percent compared with the same period last year. The average import price was $3,669.09/mt, up $713.71/mt or 24.1 percent year on year. Total imports of the subject product in Q1 reached 33,000 mt, down 5,000 mt or 13.2 percent, amounting to $109.73 million, up $7.12 million or 6.9 percent year on year. The average import price in this period was $3,325.15/mt, down $624.89/mt or 23.1 percent.
The galvanized sheet export volume in March was 235,000 mt, down 83,000 mt or 26.1 percent year on year, totaling $194.09 million, down $33.77 million or 14.8 percent compared with the same period last year. The average export price was $825.9/mt, up $109.36/mt or 15.3 percent year on year. Total exports in Q1 reached 612,000 mt, down 307,000 mt or 33.4 percent, amounting to $479.59 million, down $180.52 million or 27.3 percent year on year. The average export price in this period was $783.64/mt, up $65.32/mt or 9.1 percent.
Galvanized sheet imports in March were 395,000 mt, down 47,000 mt or 10.6 percent year on year, totaling a value of $336.92 million, down $17.71 million or five percent compared with the same period last year. The average import price was $852.96/mt, up $50.63 or 6.3 percent year on year. Total imports in Q1 reached 1.104 million mt, down 27,000 mt or 2.4 percent, amounting to $933.87 million, up $30.07 million or 3.3 percent year on year. The average import price in Q1 was $845.9/mt, down $46.78/mt or 5.9 percent.
The color coated sheet export volume in March reached 132,000 mt, up 69,000 mt or 109.5 percent year on year, totaling $125.56 million, up $68.92 million or 121.7 percent compared with the same period last year. The average export price was $951.21/mt, up $52.16/mt or 5.8 percent year on year. Total exports in Q1 reached 328,000 mt, down 157,000 mt or 91.8 percent, amounting to a value of $301.45 million, up $149.58 million or 93.9 percent year on year. The average export price in the Q1 period was $919.05/mt, up $9.87/mt or one percent.
Color coated sheet imports in March stood at 25,000 mt, up 3,000 mt or 13.6 percent year on year, totaling $25.16 million, up $4.21 million or 20.1 percent compared with the same period last year. The average import price was $1,006.4/mt, up $54.13/mt or 5.7 percent year on year. Total imports of the subject product in Q1 reached 59,000 mt, down 9,000 mt or 13.2 percent, amounting to a value of $59.67 million, down $3.29 million or 5.2 percent year on year. The average import price in this period was $1,011.36/mt, up $85.48/mt or 9.2 percent.
China's seamless pipe export volume in March reached 327,000 mt, up 40,000 mt or 13.9 percent year on year, totaling $423 million, up $84.71 million or 25 percent compared with the same period last year. The average export price was $1,293.58/mt, up $114.87/mt or 9.7 percent year on year. Total Q1 exports reached 1.115 million mt, up 245,000 mt or 28.2 percent, amounting to $1.39337 billion, up $362.38 million or 35.1 percent year on year. The average export price in this period was $1,249.66/mt, up $64.61 or 5.5 percent.
Seamless pipe imports in March came to 55,000 mt, up 3,000 mt or 5.8 percent year on year, totaling $253.26 million, up $43.64 million or 20.8 percent compared with the same period last year. The average import price was $4,604.73/mt, up $573.58/mt or 14.2 percent year on year. Total Q1 imports reached 131,000 mt, down 2,000 mt or 1.5 percent, amounting to $669.46 million, up $126.69 million or 23.3 percent year on year. The average import price in this period was $5,110.38/mt, up $1,026.4/mt or 25.1 percent.
The welded pipe export volume in March was 167,000 mt, down 171,000 mt or 50.6 percent year on year, totaling a value of $158.62 million, down $100.3 million or 38.7 percent compared with the same period last year. The average export price was $949.82/mt, up $184.67/mt or 24.1 percent year on year. Total exports in Q1 reached 710,000 mt, down 381,000 mt or 34.9 percent, amounting to $624.03 million, down $192.78 million or 23.6 percent year on year. The average export price in this period was $878.92/mt, up $130.24/mt or 17.4 percent.
Welded pipe imports in March came to 63,000 mt, up 48,000 mt or 320 percent year on year, totaling $113.01 million, up $77.59 or 219.1 percent compared with the same period last year. The average import price was $1,793.8/mt, up $567.53/mt or 24 percent year on year. Total Q1 imports for this product reached 142,000 mt, up 95,000 mt or 202.1 percent, amounting to $257.9 million, up $162.18 million or 169.4 percent year on year. The average import price in this period was $1,816.2/mt, up $220.4/mt or 10.8 percent.
China registered 10,000 mt of semis exports for the month of March, with total semis exports in the January-March period coming to just 90,000 mt, down 95 percent year on year. Meanwhile, China's semis imports reached 20,000 mt, with Q1 semis imports totaling 50,000 mt, down 37.9 percent. From these figures it is seen that, both imports and exports of semis maintained fluctuating movements at low levels.
China's coke exports for March totaled 1.24 million mt, with coke exports for the January-March period reaching 2.93 million mt, down 19.6 percent year on year.
In March, China's total iron ore imports amounted to 35.68 million mt, with January-March iron ore imports reaching 110.66 million mt, up 10.5 percent year on year.