China’s steel bars exports down 24.8% in Nov, while wire rod shipments add 14.5%

Thursday, 24 December 2020 14:09:53 (GMT+3)   |   Shanghai

In November, China’s export of steel bar amounted to 0.45 million mt, down 24.8 percent year on year and down 4.26 percent month on month. Nevertheless, in December the interest in buying of Chinese rebar in Asia has increased amid very high offers for Turkish and Middle East rebar. This may boost shipment of Chinese bar in February-March.

At the same time, wire rod and angles/channels exports amounted to 190,000 mt and 250,000 mt, up 14.5 percent and up 21.9 percent year on year, while up 8 percent and 11.8 percent month on month, respectively.

In the given month, the improved demand for longs in overseas market stimulated Chinese exporters, while demand in the local market in China was at decent levels too.

In the January-November period of the current year, China’s exports of steel bars totaled 6.27 million mt, down 30.6 percent, year on year, while wire rod export amounted to 1.83 million mt, down 2.2 percent year on year. At the same time, China’s export volumes of angles/channels came to 2.59 million mt in the given period, down 13.7 percent year on year.

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