In the January-July period of the current year, China’s exports of steel bars totaled 4.41 million mt, down 30.9 percent year on year, while its wire rod exports amounted to 1.1 million mt, down 9.2 percent year on year, according to the Chinese customs authorities. At the same time, China’s export volumes of angles/channels came to 1.77 million mt in the given period, down 11.1 percent year on year.
In July alone, China’s exports of steel bars amounted to 0.47 million mt, down 44.7 percent year on year, while its exports of wire rod and angles/channels amounted to 190,000 mt and 220,000 mt, down 0.1 percent and down 26.2 percent year on year, respectively.
Firm demand in the domestic market in China and high costs due to surging iron ore prices exerted a negative impact on exports of rebar and wire rod and will continue to affect the market situation.