China’s finished steel exports tumble in May
Published: Tuesday, 09 July 2019
China’s exports of finished steel in May fell back from the high prices earlier in the year when seasonal demand recovered.
China’s finished steel exports fell in May
2019, both year-on-year as well as when compared with the
The country shipped 5.74 million tonnes of finished steel
abroad in the month, down by 16.5% from a year earlier,
according to preliminary Chinese customs data released on June
The month’s exports were also 9.22% lower than
April’s 6.33 million tonnes.
May’s lower exports were mainly due to high
prices in March and early April - when transactions for these
shipments were mostly concluded - amid a seasonal recovery of
demand. Chinese steel products became less competitive in the
export market during that period.
For instance, the Fastmarkets’ steel hot-rolled
coil (HRC) index, export, fob main port China, fluctuated in
the range of $519.50-538.25 per tonne over March 1-April 15,
while the assessment for steel, HRC export, fob Black Sea, CIS,
fell gradually to $485-495 per tonne fob on April 15, from
$520-530 per tonne in early March.
China’s finished steel exports over the first
five months of 2019 totaled 29.09 million tonnes, up by 2.5%
year-on-year, according to the country’s customs