SteelOrbis Shanghai
The latest figures released by the Chinese customs authorities indicate that Chinese finished steel exports in March totaled 5.38 million mt, hitting the second highest monthly record in history - surpassed only by the figure of 5.55 million mt for December last year.
In March, China's finished steel exports totaled 5.38 million mt, up 2.57 million mt or 91.5 percent year on year and up one million mt or 28.7 percent month on month. However, the growth rate saw a decline compared with the previous months.
Semi finished steel exports, on the other hand, reached 660,000 mt, up 360,000 mt or 120 percent year on year and up 120,000 mt or 22.2 percent month on month.
Meanwhile, Chinese finished steel imports for March totaled 1.57 million mt, down 220,000 mt or 12.3 percent year on year and up 350,000 mt or 28.7 percent month on month.
Semi finished steel imports in March stood at 30,000 mt, down 20,000 mt or 40 percent year on year and neutral month on month.
January-March exports of finished steel totaled 14.13 million mt, up 7.66 million mt or 118.4 percent year on year. Meanwhile, exports of semi finished steel in the first quarter reached 1.78 million mt, up 880,000 mt or 98 percent.
January-March imports of finished steel totaled 4.27 million mt, down 340,000 mt or 7.4 percent year on year. Meanwhile, imports of semi finished steel reached 80,000 mt, down 20,000 mt or 20 percent.
Thus, China's net exports of finished steel and semi finished steel in March amounted to 3.81 million mt and 630,000 mt respectively, equivalent to net crude steel exports of 4.64 million mt.
In the first quarter, China's net exports of finished steel and semi finished steel stood at 9.86 million mt and 1.7 million mt respectively, equivalent to 12.08 million mt in crude steel for the January-March period.
Against the background of fast-growing exports, China's finished steel market is fluctuating on a weak trend at present. It will be very crucial for the future Chinese market whether or not exports continue on the current trend.
The March iron ore imports totaled 35.62 million mt, up 6.11 million mt or 20.7 percent year on year and sharply up 6.88 million mt or 23.9 percent month on month. This is mainly because importers strove to achieve as many iron ore arrivals as possible before April 1, when new iron ore prices were due to enter into effect. Moreover, the imposition of tariffs on iron ore exports by India's government also pushed the Chinese traders to strive for more imports from India. China's total first quarter iron ore imports amounted to 100.19 million mt, up 19.28 million mt or 23.8 percent compared with the same period last year.
In March, China's coke exports totaled 1.53 million mt, up 460,000 mt or 43 percent year on year. Meanwhile, January-March exports reached 3.65 million mt, up 610,000 mt or 19.8 percent.