In the January-May period this year, China’s exports of steel bars totaled 4.58 million mt, up 74.1 percent year on year, while its wire rod exports amounted to 1.01 million mt, rising by 24.7 percent year on year, according to the Chinese customs authorities. At the same time, China’s export volumes of angles/channels came to 2.02 million mt in the given period, up 63.7 percent year on year.
In May alone, China’s export of steel bars amounted to 1.04 million mt, up 24.7 percent year on year, while rising by 14.29 percent month on month, and its exports of wire rod and angles/channels amounted to 230,000 mt and 460,000 mt, up 18.9 percent and up 30.1 percent year on year, respectively, and increasing by 4.55 percent and 9.52 percent month on month.
Chinese rebar export prices moved down in late May amid decreasing rebar futures prices, though they indicated a rebounding trend in June due to reduced production by steelmakers in some regions of China.