China exports nearly 2.3 million tons steel in first half

China exports nearly 2.3 million tons steel in first half

The China Iron and Steel Association (CISA) reported that China finished the first half of the year as a net steel exporter. China's net steel exports totaled 2.29 million tons through June of this year. China's rolled steel exports rose 154 percent year on year to 11.57 million tons, and billet exports jumped 261 percent to 4.8 million tons during the same period. On the other hand, the country's rolled steel imports declined 26.84 percent to 13.22 million tons, while billet imports tumbled 75.74 percent to 773'800 tons. However, China remains a net steel importer in terms of the trade value due to average import prices that were $347 higher than export prices. The difference in price level can be mainly attributed to China's need to import specialized steel.