In October, China's finished steel exports totaled 2.7002 million mt, down 1.9168 million mt or 41.52 percent year on year, totaling a value of $2.104 billion, down $3.7 billion or 63.75 percent compared with the same month last year. Meanwhile, finished steel exports for the January-October period this year reached 18.4021 million mt, down 34.6728 million mt or 65.33 percent year on year, amounting to a total value of $17.568 billion, down $37.985 billion or 68.35 percent compared to the same month last year.
On the other hand, China's finished steel imports in October totaled 1.4782 million mt, up 333,900 mt or 29.18 percent year on year, totaling $1.551 billion in value, down $473 million or 23.36 percent compared with the same month last year. Meanwhile, finished steel imports for the January-October period reached 14.8608 million mt, up 1.4251 million mt or 10.61 percent year on year, amounting to a value of $16.389 billion, down $3.59 billion or 17.97 percent compared to the same month last year.
In October, the country's net exports of finished steel amounted to 1.222 million mt, with the trading surplus totaling a value of $553 million. The average export price in October was $779.12/mt, down $477.88/mt or 38.02 percent year on year. The average import price was $1,049.15/mt, down $719.23/mt or 40.67 percent year on year. The export price was $270.03/mt or 25.73 percent lower than the import price.