In April this year, China exported 7.973 million mt of finished steel, up 5.71 percent month on month. The volume is 26.2 percent higher year on year, as announced by the Chinese customs authorities on May 7.
China decided to lift the export tax rebates on 146 kinds of steel products as of May 1, including all major steel products, including rebar, wire rod, plate, HRC, but excluding CRC and HDG coils. This will affect exports of long products from China, most sources have said, but HRC export supplies will continue amid the price surge in the global market. Moreover, CRC and HDG export sales may accelerate in the current conditions.
In the January-April period this year, China exported 25.654 million mt of finished steel, increasing by 24.5 percent year on year, with the growth 0.7 percentage points faster than that recorded in the first three months this year.