China’s September finished steel exports show increase over August

In September, China's finished steel exports totaled 2.47 million mt, down 4.2 million mt or 62.99 percent year on year, totaling a value of $1.99 billion, down $5.94 billion or 74.93 percent compared with the same month last year. However, the September export figures indicate an increase compared to the levels in August, when China's volume of finished steel exports amounted to 2.09 million mt, totaling a value of $1.66 billion. Meanwhile, finished steel exports for the January-September period this year reached 15.7 million mt, down 32.76 million mt or 67.6 percent year on year, amounting to a total value of $15.48 billion, down $34.29 billion or 68.89 percent compared to the same month last year.

On the other hand, China's finished steel imports in September totaled 1.91 million mt, up 644,800 mt or 50.98 percent year on year, totaling $1.99 billion in value, down $194 million or 8.91 percent compared with the same month last year. However, the September levels show a rise compared to the month of August, when China imported 1.59 million mt of finished steel at a value of $1.71 billion. Meanwhile, finished steel imports for the January-September period reached 13.38 million mt, up 1.09 million mt or 8.88 percent year on year, amounting to a value of $14.84 billion, down $3.114 billion or 17.35 percent compared to the same month last year.

In September, the country's net exports of finished steel amounted to 556,600 mt, with the trading surplus totaling a value of $20 million. The average export price in September was $806.24/mt, down $383.9/mt or 32.26 percent year on year. The average import price was $1,039.88/mt, down $683.65/mt or 39.67 percent year on year. The export price was $233.64/mt or 22.46 percent lower than the import price.

China's top five steel export destinations in September 2009:

China's top five steel import sources in September 2009: