In October this year, China’s finished steel imports totaled 1.0328 million mt, down 14.20 percent compared to September, according to the China Iron and Steel Association (CISA). Meanwhile, the country exported 4.8394 million mt of finished steel in the given month, down 6.06 percent month on month. Thus, China’s net finished steel exports amounted to 3.8066 million mt in October.
In the given month, China’s three largest sources of finished steel imports were Japan, South Korea and Taiwan, respectively accounting for 44.38 percent, 31.12 percent and 12.7 percent of China’s total imports. In October, China’s average finished steel import prices from Japan, South Korea and Taiwan were $1,187.39/mt, $1,012.63/mt and $1,026.09/mt respectively.
Meanwhile, China’s five main finished steel export destinations in October were South Korea, Thailand, Vietnam, the US and India, with the combined export volume to these countries constituting 38.84 percent of China’s total finished steel exports in the given month, slightly lower than the share of 39.18 percent for these countries in September.