According to China's detailed exports statistics for January-August 2007, Chinese steel exports have continued to register a year on year increase, despite the slowdown in recent months. However, a shift in the target markets has been observed: China's steel exports to the US decreased sharply, while its exports to Iran, Italy, Belgium, Spain and South Korea increased.
Of China's August steel exports of 5.3 million mt, 1.14 million mt were exported to the EU25, 880,760 mt to South Korea, 350,190 mt to the USA, and 320,830 mt to Iran.
With regard to flat rolled products, 830,230 mt of the total August exports of 2.72 million mt were directed to the EU25. Looking at the first eight months of the year, China's total flat steel exports to the EU25 reached 5.25 million mt, up 89.6 percent year on year. Of the European countries, Italy accounted for the greatest quantity of flat steel exports from China in August, registering 265,700 mt. China's total flat steel exports to Italy in the first eight months of 2007 reached 1.58 million mt, up 12.5 percent year on year. Meanwhile, China's flat steel exports to Belgium indicated a sharp 211.7 percent year on year increase for the first eight months reaching 1.38 million, amounting to 232,200 mt for August alone. China's flat steel exports to Spain came to 150,000 mt in August, totaling 1.03 million mt in the January-August period, up 75.11 percent year on year. Looking at the non-European countries, China's exports to South Korea reached 550,710 mt in August; meanwhile, for the first eight months of 2007 the export figure came to 3.47 million mt, up 46.83 percent year on year.
Of flat rolled products, China's exports of hot rolled coils and strips in August to the EU25 reached 254,000 mt. When the figures for the first eight months are taken into consideration, it is understood that hot rolled coil exports from China to Europe decreased by around 50 percent compared with the same period of last year; meanwhile, the exports of medium wide strips increased by 12 percent; while those of narrow strips increased by 563 percent (126,900 mt in the first eight months). Meanwhile, Chinese exports of hot rolled coils and strips to South Korea reached 358,400 mt in August.
With regard to cold rolled coils, Chinese exports to the EU25 reached 70,000 mt in August, mainly heading to Italy (29,300 mt). For the first eight months, Chinese cold rolled coil exports to the EU25 totaled 549,000 mt, up 249 percent. Meanwhile, cold rolled coil exports to the US were 25,400 mt in August, totaling 170,700 in January-August, down 43 percent year on year.
Chinese plate exports registered a sharp increase throughout 2007. Plate exports to the EU25 reached 227,500 mt in August and 1.52 million mt in the first eight months of 2007, up 298 percent. In particular, among the EU countries, exports to Belgium and Spain registered sharp increases. Meanwhile, China's plate exports to South Korea amounted to 169,500 mt in August and 1.52 million mt in the first eight months of the year, up 128 percent year on year.
Turning to coated sheet, China's exports to the EU25 reached 198,900 mt in August and 1.32 million mt in January-August, the latter figure up 186.1 percent year on year. Coated sheet exports to Belgium totaled 87,700 mt in August and 444,700 mt in the first eight months, up 258.47 percent year on year; exports to Italy were 35,700 mt in August and 254,500 mt in January August, up 103.4 percent year on year; while exports to Spain were 30,300 mt in August and 251,300 mt in the first eight months of the year, up 159.54 percent year on year. On the other hand, exports to the US dropped 53.99 percent in the first eight months of 2007 to 229,900 mt, amounting to 35,600 mt in August alone.
As regards long steel products, China's rebar and wire rod exports totaled 1.12 million mt in August. 230,300 mt of this figure were directed to South Korea, 145,400 mt to the EU25 and 94,800 mt to Iran. Looking at the figures for the first eight months of the year, exports to Iran increased sharply by 14,159 percent from 9,200 mt in January-August 2006 to 1.31 million mt in the same period of 2007. In addition, China's total exports to the EU25 reached 1.59 million mt, up 225.62 percent. On the other hand, exports to the US decreased 39.57 percent year on year to 470,000 mt.
Finally, China exported 512,800 mt of angles and sections in August. Total angle and section exports reached 4.16 million mt in January-August 2007, up 174 percent. Exports to Iran totaled 180,360 mt in August; amounting to 1.05 million mt for the first eight months, up 12,347 percent. Exports to the UAE came to 52,100 mt in August and to 361,000 mt for the first eight months, up 175.54 percent. Meanwhile, South Korea registered 47,400 mt of exports from China in August, totaling 739,200 mt in January-August 2007, up 20 percent.