SteelOrbis Shanghai
The latest data released by China's customs authorities show that national finished steel exports reached 7.16 million mt in April - again setting a new monthly historical record. The April figure was 1.61 million mt higher compared with last December's record, representing year on year growth of 165.2 percent and a month on month increase of 33.1 percent.
In April, semis exports totaled 870,000 mt, up 390,000 mt or 81.3 percent year on year and up 210,000 mt or 31.8 percent month on month.
The finished steel imports for the month in question amounted to 1.63 million mt, down 40,000 mt or 2.4 percent year on year and up 60,000 mt or 3.8 percent month on month.
Semis imports in April reached 20,000 mt, down 20,000 mt year on year and down 10,000 mt month on month.
From January to April, exports of finished steel totaled 21.28 million mt, up 12.11 million mt or 132.1 percent year on year; while semi finished steel exports totaled 2.65 million mt, up 1.27 million mt or 92 percent year on year.
In the January-April period, China's total finished steel imports reached 5.9 million mt, down 390,000 mt or 6.2 percent year on year; while semi finished steel imports reached 100,000 mt, down 40,000 mt or 28.6 percent.
In April, China's net exports of finished steel reached 5.53 million mt, net exports of semis came to 850,000 mt - totaling 6.67 million mt in net crude steel exports for April.
Total net exports of finished steel in Jan-Apr stayed at 15.38 million mt, while the figure for net semis exports for the same period came to 2.55 million mt - giving a total of 18.47 million mt in net crude steel exports for the period.
The imports of iron ore stood at 33.37 million mt in April, up 6.11 million mt or 22.4 percent year on year and down 2.25 million mt or 6.3 percent month on month. Total iron ore imports in the Jan-Apr period came to 133.55 million mt, up 25.36 million mt or 23.4 percent year on year.
China's coke exports in April reached 1.48 million mt, up 320,000 mt or 27.6 percent year on year and down 50,000 mt or 3.3 percent month on month. Total coke exports for the Jan-Apr period reached 5.13 million mt, up 930,000 mt or 22.1 percent.
April's exports of finished steel totaled 8.41 million mt in crude steel. This figure is expected to constitute about 20 percent of China's April crude steel production, far higher than the ratio (10 percent) approved by the China Iron and Steel Association. Since the central government has many times emphasized the need to curb steel exports, the high exports and rapid growth will surely be answered by strict governmental control measures. In addition to the recent export license system, market rumors say that additional tariffs are expected to be imposed on steel exports.