Posted on 09 Aug 2022
China's total steel exports totalled 40.07 million tonnes over January-July, registering a smaller decline of 6.9% on year as against the 10.5% on-year fall for the first half of this year, according to data released by the country's General Administration of Customs (GACC) on August 7.
As for July alone, China's steel export volume grew 17.7% on year to 6.67 million tonnes, the GACC data showed. This result was 11.7% lower on month, though it "remained at a high level," sources commented.
The on-month decline in July shipments was mainly due to the feeble demand from overseas buyers, according to a Shanghai-based industry watcher.
Meanwhile, despite the sharp fall in prices, Chinese steel export prices were uncompetitive compared with those of steelmakers in other countries, he noted, with the result that few export orders were concluded.
As of July 29, the export price of China-origin SS400 4.75mm HRC under Mysteel's assessment had dropped $80/tonne on month to $580/t FOB from North China's Tianjin port, and that of SPCC 1.0 mm CRC slid $100/t during the same period to $653/t FOB from Tianjin port.
For imports, China imported 789,000 tonnes of steel products in July, inching down 0.3% from that for June or 24.9% lower on year. This took total imports for the first seven months of this year to 6.56 million tonnes, dipping 21.9% from the same period last year, according to the GACC's statistics.
Source:Mysteel Global
