In the January-May period this year, China exported 25.002 million mt of finished steel, down 14 percent year on year, as announced by the Chinese customs authorities on June 7, while the year-on-year decline 2.3 percentage points bigger compared to that recorded in the January-April period of the year.
In May alone, China exported 4.401 million mt of finished steel, decreasing by 23.3 percent year on year and down 30.35 percent month on month amid the high-leveled export prices of Chinese finished steel and severe competition from other regions.
China imported 5.464 million mt of finished steel in the January-May period of the current year, increasing by 12.0 percent year on year, 4.6 percentage points higher compared to the first four months of the year.
In May alone, China imported 1.28 million mt of finished steel, up 30.6 percent year on year, while rising by 27.2 percent month on month, and this situation will likely continue in the coming period. Traders in China have been willing to purchase imported finished steel due to the good profit range involved.