Welcome to the Evergrowing Resources Co., Limited website!
Service hotline: 0086-13951964778

China’s Jan-Nov steel exports down 18%, imports up 74%

Date: 2020-12-07
Views: 48

Article source: Mysteel

China exported a total of 48.8 million tonnes of finished steel over January-November, down 18.1% on year, while its finished steel imports surged 74.3% on year to 18.9 million tonnes over the same period, according to the latest statistics released by the country’s General Administration of Customs on December 7.

The decline in China’s steel exports, however, narrowed from the 19.3% on-year drop over January-October, mainly due to higher steel exports in November, as the global demand has been recovering and the narrowing gap between China’s domestic and export prices of steel products in September, as the November deliveries were mainly booked two months before, Mysteel Global understands.

In November, China’s finished steel exports approximated 4.4 million tonnes, up 9% on month but down 3.8% on year, according to the available Customs data.

On the other hand, China’s steel imports fell 4% on month in November to about 1.85 million tonnes in November, or the second consecutive month with on-month decline from the record high of nearly 2.9 million tonnes in September, according to the publicly-available Customs data, but it was still up 81.2% on year, and the on-year gain in the country’s steel imports in the first eleven months, was still higher than the 73.9% rise over January-October, Mysteel Global noted.

Global steel market has shown signs of slow but consistent recovery in both demand and supply in September even though the second or third wave of the COVID-19 outbreak hit many countries out of China in November, as the overseas economies have been striving to return to the normal tracks after a few months of partial or complete lockdowns over late February-August, Mysteel Global noted.

In September, major steel mills in the countries such as Vietnam, Japan, India and those in Europe have been gradually lifting their output and prices, enabling Chinese steel producers to raise their export offering prices in tandem and to narrow the gap against the domestic prices, Mysteel’s tracking showed.

On September 11, Formosa Ha Tinh (FHS), Vietnam’s largest integrated steel mill, for example, increased its HRC offering prices by $45-50/t on month to $545-550/t (non-skin pass) and $550-555/t (skin pass) CIF for both domestic and overseas sales for November 20 deliveries, or the fourth price increment since June, as Mysteel Global reported.

China’s SS400 4.75mm HRC, therefore, went up by $21/t on month accordingly to $521/t FOB Tianjin port, North China, according to Mysteel’s assessments.

Related Suggestion / Hot News
2024 - 07 - 23
点击次数: 5
Source: Lange Steel Network In the first half of this year, China's steel exports showed strong growth. According to customs statistics, China exported 53.4 million tons of steel from Ja...
2024 - 07 - 16
点击次数: 5
Source: China Steel News At the 3rd Opportunities and Challenges of Amorphous Alloy Materials in the Development of Power Electronics Industry held recently, Zhang Hua, Secretary General of the A...
2024 - 07 - 11
点击次数: 14
Source: China Metal Bulletin The global economy has witnessed periods of recession, posing significant challenges to various industries, and the steel sector is no exception. However, the steel i...
Copyright ©2019 - 2022 evergrowing resource co.,ltd 
Xiniuyun provides enterprise cloud services