In the January-May period this year, China’s HRC and CRC production totaled 88.541 million mt and 20.684 million mt, down 6.7 percent and up 5.6 percent year on year, respectively, according to China’s National Bureau of Statistics (NBS).
In May alone, China’s HRC and CRC production amounted to 18.154 million mt and 4.286 million mt, down 4.0 percent and up 8.3 percent year on year, while up 3.2 percent and down 6.7 percent month on month, respectively.
In May, HRC prices in the Chinese domestic market moved up first while edging down later. HRC prices reached a peak in May at RMB 3,580/mt ($526/mt) on May 12, with the lowest level during the month seen at RMB 3,480/mt ($511/mt) on May 1-5, according to SteelOrbis’ data.
As previously reported by SteelOrbis, China’s steel sheet/plate exports totaled 26.16 million mt in the January-May period this year, down 13.9 percent year on year, 2.7 percentage points slower than the declining pace recorded in the first four months this year, according to the Chinese customs authorities.
In May alone, China’s steel sheet/plate exports amounted to 6.1 million mt, down 3.7 percent year on year, while up 11.7 percent month on month.
Overseas demand for steel plate/sheets improved in May, resulting in the month-on-month increase in exports in the given month.
