China exported 5.37 million mt of steel in August. South Korea continued to be the largest importer of Chinese steel; meanwhile, exports to the US decreased significantly. On the other hand, Japan accounted for the largest portion of Chinese steel imports.
According to the August data issued by Chinese customs, South Korea imported 887,600 mt of steel from China with a value of $574.64 million. Total South Korean imports in January-August reached 7.89 million mt.
The US imported 351,900 mt of steel in August worth $374.5 million. Total imports for January-August reached 3.09 million mt.
Despite the summer holidays, Italy managed to be the third largest importer of Chinese steel with 332.800 mt worth $261.18 million in August. Total Italian imports in January-August reached 2.54 million mt.
Imports to Belgium were 331.700 mt in August with a value of $253.17 million. Total imports through January-August came to 1.85 million mt.
The fifth largest importer of Chinese steel in August was Iran with 328,200 mt worth $185.33 million. However, Iran ranks third with its 2.59 million mt of imports through January-August.
Iran was followed by Vietnam with 270,100 mt worth $164, 28 million in August. Iran registered 2.06 million mt in January-August.
Following Vietnam, in August the UAE imported 226,900 mt, India imported 186,900 mt, Spain 187,300 mt, Singapore 160,200 mt, Taiwan 104,800 mt and Thailand 87,500 mt of steel from China.
According to the comparison between the January-August 2007 export data and the same period of the previous year, Iranian imports from China increased by an incredible 2,061.29 percent. Belgian imports rose by 246.08 percent, India imports by 163.26 percent, Vietnam's by 100.65 percent, Spain's by 82.42 percent, Italy's by 52.16 percent, and South Korea's by 39.68 percent. Meanwhile, China's exports to the US decreased by 7.3 percent year on year.
With regard to China's own steel imports in August, Japan still remained the largest supplier with 612,300 mt with a value of $698.58 million, and with a total of 4.59 million mt for January-August. South Korea was the second biggest supplier to China in August with 329,700 mt at a value of $314.61 million, and with 2.45 million mt through the first eight months of the year. Taiwan was in third position with 288,200 mt worth $296.66 million, and with 2.24 million mt for January-August. China's total steel imports in August reached 1.46 million mt.
In January-August, the quantity of Japan's steel exports to China increased 6.98 percent year on year, South Korea's figure decreased 6.22 percent, while Taiwan's declined by 14.78 percent.