In September this year, China’s finished steel exports amounted to 10.153 million mt, up 6.9 percent month on month and increasing by 26 percent year on year, according to the latest data released by China's General Administration of Customs (GACC).
China’s steel exports in September continued to be characterized by low prices and high export volumes and the trend of high volumes even accelerated as export prices were better than local prices, with the year-on-year steel export increase rate rising from 14.6 percent in August to 26 percent in September. The monthly volume of over 10 million mt is the highest since 2016.
In the January-September period this year, China’s finished steel exports rose by 21.2 percent year on year to 80.711 million mt.
It is expected that the export volumes in October and partly in November will still be decent, while they are expected to fall in December and January, considering the rebound in local steel prices and the lack of export deals done for shipments in late November and in December.
China’s finished steel imports totaled 554,000 mt in September, up 8.8 percent month on month and decreasing by 13.4 percent year on year.