China’s finished steel exports down 75 percent in July

In July, China's finished steel exports totaled 1.80 million mt, down 5.40 million mt or 74.93 percent year on year, totaling a value of $1.598 billion, down $6.227 billion or 79.58 percent compared with the same month last year. In addition, finished steel exports for the January-July period reached 11.16 million mt, down 22.96 million mt or 67.3 percent, amounting to a total value of $11.833 billion, down $21.221 billion or 64.2 percent year on year.

Meanwhile, China's finished steel imports in July totaled 1.7456 million mt, up 306,600 mt or 21.3 percent year on year, totaling $1.814 billion in value, down $410 million or 18.45 percent compared with the same month last year. In addition, finished steel imports for the January-July period reached 9.8798 million mt, up 188,800 mt or 1.95 percent, amounting to a value of $11.14 billion, down $2.447 billion or 18.01 percent year on year.

In July, the country's net exports of finished steel amounted to 61,600 mt, with the trading deficit totaling a value of $216 million. The average export price was $884.19/mt, down $201.47/mt or 18.56 percent year on year. The average import price was $1,039.96/mt, down $506.59/mt or 32.77 percent year on year. The export price was $155.17/mt or 14.93 percent lower than the import price.

China's top five steel export destinations in July and in January-July 2009:

China's top five steel import sources in July and in Jan-Jul 2009: