In the January-September period this year, China’s exports of steel bars, wire rod and angles/channels totaled 8.26 million mt, 1.83 million mt and 3.69 million mt, up 50.6 percent, 22.2 percent and 36.6 percent year on year, respectively, according to the Chinese customs authorities.
In September alone, China’s exports of steel bars amounted to 0.89 million mt, up 56.3 percent year on year and down 11 percent month on month, while its exports of wire rod and angles/channels amounted to 220,000 mt and 420,000 mt, up 49.7 percent and 22 percent year on year, respectively, and increasing by 4.76 percent and decreasing by 2.33 percent month on month.
In September, China issued several stimulus policies to boost economic development, especially targeting the real estate sector, while demand for rebar and wire rod did not indicate any significant improvements. At the same time, stock replenishments ahead of the long National Day holiday were not as good as market players had expected, which exerted a negative impact on longs exports.
