In the January-September period this year, China’s exports of steel bars totaled 9.4 million mt, up 14.0 percent year on year, while wire rod exports amounted to 1.96 million mt, up 7.2 percent year on year, according to the Chinese customs authorities. At the same time, China’s export volumes of angles/channels came to 4.19 million mt in the given period, increasing by 14.2 percent year on year.
In September alone, China’s exports of steel bars amounted to 1.35 million mt, up 50.7 percent year on year and rising by 25 percent month on month, while exports of wire rod and angles/channels amounted to 210,000 mt and 580,000 mt, down 2.4 percent and up 39.7 percent year on year, and remaining stable and up 26 percent month on month, respectively.
In September, China’s monthly steel export volume exceeded 10 million mt for the first time this year, while export prices decreased steadily. Accordingly, China’s steel exports indicated an increase in volume and a decline in overall value.
As for October, the appreciation of the Chinese currency and increasing trade frictions may exert a negative impact on China’s steel exports. However, considering the relatively low base for steel exports in October of the previous year, China’s steel exports may continue to increase on year-on-year basis in October this year.