China becomes a net importer of crude steel in March

Wednesday, 15 April 2009 11:42:16 (GMT+3)   |  
       

According to the data released by the Chinese customs authorities, China's finished steel export volume for March came to 1.67 million mt, up 110,000 mt or 7.1 percent from the previous month and down 2.48 million mt or 59.8 percent year on year. During the January-March period, China exported a total of 5.14 million mt of finished steel, a fall of 6.24 million mt or 54.8 percent year on year.

In March, China imported 1.27 million mt of finished steel, up 180,000 mt or 16.5 percent over the previous month, and down 230,000 mt or 15.3 percent year on year. During the first three months of 2009, China's finished steel import volume totaled 3.23 million mt, with a decrease of 940,000 mt or 22.5 percent year on year.

As a result, China's net exports of finished steel in March amounted to 400,000 mt, down 70,000 mt or 14.9 percent over the previous month.

China's semis exports in March remained at zero. Semis imports in March stood at 460,000 mt, up 150,000 mt or 48.4 percent month on month and up 420,000 mt year on year. Total imports of the subject product in the January-March period stood at 900,000 mt, up 850,000 mt year on year.

China's crude steel export volume in March reached 1.76 million mt, up 130,000 mt or 7.9 percent month on month, with the import volume at 1.8 million mt. Thus, net imports of crude steel in March came to 40,000 mt, marking a switch from a situation of net exports to one of net imports.

In addition, China's coke exports in March amounted to 50,000 mt, up 20,000 mt or 66.7 percent month on month and down 1.19 million mt or 96 percent year on year. Total exports of the product in question in the January-March period reached 150,000 mt, down 2.78 million mt or 94.9 percent year on year.

China's iron ore imports in March stood at 52.08 million mt, up 5.34 million mt or 11.4 percent over the previous month and up 16.4 million mt or 74 percent year on year. Total iron ore imports in the January-March period reached 131.47 million mt, up 20.81 million mt or 18.8 percent year on year.

Although China became net importer of crude steel again in March, it continued to be a net exporter of finished steel during the month in question.


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