China’s steel sheet/plate exports totaled 9.33 million mt in the January-February period this year, down 14.5 percent year on year, according to the Chinese customs authorities.
China’s steel sheet/plate exports have been more directly impacted by introduction of export licenses in China as of January 1, which have significantly cut shipments of non-VAT HRC from China. Up to now, sales of non-VAT HRC have been close to zero. However, one trader commented, “I think there are signs that non-VAT offers coming back from late March and April.”
In addition, CBAM restrictions in Europe and antidumping duties globally, especially in the Asian region, resulted in a bigger decrease in exports of HRC during the first two months this year.