The latest data released by Chinese customs show that national exports of finished steel in August totaled 2.08 million mt, up 270,000 mt or 14.9 percent month on month and down 5.6 million mt or 72.9 percent year on year. From January to August, China's total exports of finished steel reached 13.24 million mt, down 28.56 million mt or 68.3 percent year on year.
Meanwhile, China's imports of finished steel for August totaled 1.59 million mt, down 150,000 mt or 8.6 percent month on month and up 290,000 mt or 21.8 percent year on year. In the January-August period, imports of finished steel totaled 11.47 million mt, up 440,000 mt or four percent year on year.
In August, China's net exports of finished steel stood at 490,000 mt, while net exports of finished steel from January to August reached 1.77 million mt.
China's semis exports in August stood at zero, down 560,000 mt year on year. Thus, in the January-August period semis exports totaled just 10,000 mt, down 910,000 mt or 98.9 percent year on year. Meanwhile, semis imports in August stood at 350,000 mt, down 220,000 mt or 38.6 percent month on month and up 340,000 mt year on year. Total imports of the subject product in the January-August period stood at 3.58 million mt, up 3.46 million mt year on year.
As a result, China's net imports of semi finished steel in August amounted to 350,000 mt. In the first eight months of this year, net semis imports reached 3.57 million mt.
China's crude steel export volume in August reached 2.19 million mt; meanwhile, net exports of crude steel in August came to 170,000 mt. Net imports of crude steel in the January-August period totaled 1.6 million mt.