In the January-June period of the current year, China’s exports of steel bars totaled 3.95 million mt, down 28.7 percent, year on year, while wire rod exports amounted to 910,000 mt, down 10.8 percent year on year. At the same time, China’s export volumes of angles and channels came to a total of 1.55 million mt in the given period, down 8.4 percent year on year.
In June alone, China’s export of steel bars amounted to 0.4 million mt, down 42.3 percent year on year, while exports of wire rod and angles/channels amounted to 160,000 mt and 180,000 mt, respectively, down 7.8 percent and 38.2 percent year on year.
The high levels of ex-China rebar and wire rod prices amid rising iron ore prices and strong demand in the local market increased the difficulties faced by exporters in June. Moreover, Chinese traders were purchasing some wire rod from Southeast Asia at prices lower than those in the local market.