In May, China’s finished steel exports totaled 10.578 million mt, up 1.1 percent month on month, while up 9.8 percent year on year. This was in line with expectations amid high crude steel production and lower than expected local demand. The export volumes for June are also expected to be strong.
In May, China’s finished steel imports totaled 481,000 mt, down 7.9 percent month on month, while down 24.8 percent year on year.
In the January-May period this year, China’s finished steel exports amounted to 48.469 million mt, up 8.9 percent year on year, according to the latest data released by China's General Administration of Customs (GACC). The pace of growth of steel exports was faster than 8.2 percent increase for January-April.
In the given period, China’s finished steel imports amounted to 2.553 million mt, down 16.1 percent year on year.