In the January-August period this year, China’s exports of steel bars, wire rod and angles/channels totaled 7.361 million mt, 1.62 million mt and 3.27 million mt, up 50 percent, 19.6 percent and 38.8 percent year on year, respectively, according to the Chinese customs authorities.
In August alone, China’s export of steel bars amounted to 1 million mt, up 56.2 percent year on year and rising by 12.4 percent month on month, while its exports of wire rod and angles/channels amounted to 210,000 mt and 430,000 mt, up 26.5 percent and 9.6 percent year on year, respectively, though decreasing by 8.7 percent and 2.3 percent month on month.
The depreciation of the Chinese currency against the US dollar contributed to the rises in steel bar exports. Meanwhile, relatively low export prices also exerted a positive impact on export activities.