Chinese semi finished steel export accelerates

SteelOrbis Shanghai In May, Chinese semi finished steel export saw an obvious increase compared with April. Semi finished steel export increased 41 percent month on month and 17.2 percent year on year to 680,000 metric tons in May. Meanwhile, semi finished steel import was 30,000 metric tons, down 76.9 year on year and neutral month on month. Therefore, semi finished steel foreign trade recorded 650,000 metric tons of net export in the month. From January to May, China's cumulative export of semi finished steel reached 2.06 million metric tons, 51.4 percent higher than the same period of the previous year. The cumulative import of semi finished steel in the same period is 170,000 metric tons, down 73.4 percent, resulting in 1.99 million metric tons net export. At present, the export quotation of Chinese common carbon billet is around $400-420/mt FOB, and still has competitive advantages in international market.