In the January-August period this year, China’s finished steel exports amounted to 77.49 million mt, up 10.0 percent year on year, according to the latest data released by China's General Administration of Customs (GACC).
In August, China’s finished steel exports totaled 9.51 million mt, down 3.3 percent month on month, while up 0.1 percent year on year.
In August, China’s finished steel imports totaled 500,000 mt, up 10.6 percent month on month, while down 1.96 percent year on year. In the first eight months this year, China’s finished steel imports amounted to 3.977 million mt, down 14.1 percent year on year.
Market players have stated that China’s finished steel exports will remain at high levels amid expectations of tighter scrutiny on trade-related tax evasion as of October 1, which is resulting in increased export activities before October.
However, the export volume of finished steel is likely to see significant decline in October, especially compared to the volume of 11.18 million mt recorded in October 2024.