In May, China’s semi-finished steel exports totaled 1.3723 million mt, up 74.93 percent month on month, while rising by 344.71 percent year on year, according to China’s customs authorities. Chinese billet exporters were eager to sell in March and early April, when most sales for May shipment were concluded. Moreover, with even more price falls seen since early April, triggered by the accelerated trade war, export shipments of billet from China are likely to remain high in June also. Slab exports from China were increasing at a slower pace.
In the January-May period this year, China’s semi-finished steel exports amounted to 4.7165 million mt, up 305.8 percent year on year.
At the same time, for imports the trend is still negative. In the January-May imports of semis totaled 361,100 mt, down 67.43 year on year. In May alone, China imported 30,900 mt of semi-finished products, down 46.86 percent month on month and 69.38 percent year on year.