China's March steel exports at record height

SteelOrbis Shanghai China became a net finished steel exporter in March 2006 with 1.02 million metric tons thanks to record level of exports. Latest figures from the Customs show that China's finished steel exports totaled 2.81 million metric tons in March 2006, a new record level with 600,000 metric tons or 27.1 percent increase year on year, and 950,000 metric tons or 51 percent increase month on month. Meanwhile, China's March imports of finished steel were 1.79 million metric tons, 770,000 metric tons or 30 percent less than the 2.56 million metric tons in March 2005. The figure is 540,000 metric tons or 43 percent higher than February 2006's 1.25 million metric tons. In the first quarter of 2006, China exported 6.47 million metric tons of finished steel, up 24.7 percent year on year. Going to the other direction, the cumulative imports in the first quarter were 4.61 million metric tons, 22.8 percent lower than a year ago. Therefore, in the first quarter, China was a net exporter with 1.86 million metric tons of finished steel. On the semis side, China exported 300,000 metric tons of semi finished steel in March; 1.16 million metric tons or 79.4 percent lower than the same period of 2005, but equaling to the exports in February 2006. March imports of semis were 50,000 metric tons, down 90,000 metric tons or 64.2 percent year on year, but up 20,000 metric tons or 66.7 percent month on month. In March 2006, China was a net exporter of semi-finished steel with 250,000 metric tons. In the first quarter of this year, the cumulative exports of semis dropped 69 percent to 890,000 metric tons year on year, while the cumulative imports of semis also dropped 74 percent to 100,000 metric tons. China was a net exporter of semis products in the first quarter with 790,000 metric tons. Calculated with the above mentioned figures, China appears as a net crude steel exporter with 1.335 million metric tons in May and 2.768 million metric tons in the entire first quarter.