According to China's steel export statistics for June, Italy overtook the USA during the month in question to become the second largest steel importer from China. Nevertheless, the US still remained the second largest steel importer from China according to the January-June 2007 figures. Meanwhile, South Korea continued to be, by some distance, the largest importer of Chinese steel products.
China exported a total of 6.36 million mt of steel in June. Of this figure, 979,514 mt was exported to South Korea, worth a total of $641.6 million. Total steel exports to this country through the first half of the year reached 6.15 million mt, with a total value of $3.5 billion.
Exports to Italy reached 443.913 mt in June, with a value of $291.6 million. Total exports to Italy through January-June 2007 reached 1.85 million mt, climbing to $1.36 billion in value.
The US imported 420.187 mt of steel from China in June, worth a total of $406 million. The total figure for the first six months of the year reached 2.34 million mt, with a value of $2.16 billion.
Iran was the fourth largest importer of Chinese steel products with 333,090 mt in June and 1.82 milion mt in the first half of the year. Spain came fifth with 318,446 mt in June but was in eighth position with 1.27 million mt through January-June. Spain was followed by Belgium (293,422 mt in June and 1.25 million mt through January-June), India (272,821 mt in June and 1.55 million mt through January-June), Vietnam (208,927 mt in June and 1.53 million mt through January-June), and Singapore (162,088 mt in June and 1.3 million mt through January-June).
The figures indicate that shipments to European countries were strong in June, with buyers in Europe anxious to secure stocks for late summer.