In August this year, China’s finished steel exports rebounded by 13.4 percent on month to 8.282 million mt, also indicating a strong 34.67 percent increase year on year, according to the latest data released by China's General Administration of Customs (GACC) on September 7.
The shipments in August reflect the deals done by exporters in June and early July, and the trend is likely to continue, with export volumes expected to remain firm in September and early October. Most mills were suffering from generally limited demand in the local market and, since production remained high for most of August, the mills were trying to accelerate sales in the export market for September-October shipment.
China's finished steel exports amounted to 58.785 million mt in the January-August period this year, increasing by 28.4 percent year on year.
In August, China’s finished steel imports totaled 640,000 mt, down 5.6 percent month on month, while down 28.1 percent year on year. In the first eight months of the year, China imported 5.058 million mt of finished steel, declining by 32.1 percent year on year.