In May this year, China exported 5.271 million mt of finished steel, down 33.9 percent month on month, as announced by the Chinese customs authorities on June 7, as local demand was good and export sales in the March-April period for shipment in May were reduced by the expected cancelation of the export tax rebates.
Compared to the same period last year, steel exports from China were up 19.8 percent in May.
There are expectations of some rebound in export shipments from China in the June-July period. However, no sharp rise is forecast as market participants are waiting for the official announcement of new export tariffs, rumoured from July 1.
In the January-May period this year, China exported 30.924 million mt of finished steel, increasing by 23.7 percent year on year, with the growth 0.8 percentage points slower than that recorded in the first four months this year.