Steel exports from China in January-November decreased by 18%

China exported 48.8 million tonnes of finished steel in January-November, down 18.1 percent from last year, while imports of finished steel rose 74.3 percent to 18.9 million tonnes over the same period. according to the latest statistics published in the country. General Customs Administration December 7.

However, the contraction in steel exports from China narrowed from 19.3% year on year between January and October, mainly due to increased steel exports in November, as global demand recovers and the gap between China's domestic and export prices narrows at the level of steel products. in September, as deliveries in November were largely scheduled two months earlier.

According to available data from customs, in November, exports of finished steel from China amounted to about 4.4 million tons, which is 9% more than in the month, but decreased by 3.8% on the year.

On the other hand, China's steel imports fell 4% from November to about 1.85 million tonnes in November, or for the second straight month, declining on a monthly basis from a record high of nearly 2.9 million tonnes in September, according to public data. there is data from customs, but it is still up 81.2% year-on-year, and the annual growth in steel imports into the country in the first eleven months was still higher than the 73.9% growth in January- October.

The global steel market showed signs of a slow but gradual recovery in supply and demand in September, even as the second or third wave of the COVID-19 outbreak hit many countries outside of China in November as overseas economies sought to return to Mysteel Global notes that after several months of partial or complete blocking in late February-August, this is normal.

In September, major steel mills in countries such as Vietnam, Japan, India and Europe gradually increased their production and prices, allowing Chinese producers to simultaneously raise their export prices and close the gap with domestic prices.

On September 11, Formosa Ha Tinh (FHS), Vietnam's largest steel mill, for example, increased HRC prices by $ 45-50 per tonne per month to $ 545-550 per tonne (without skin pass) and $ 550-555 per tonne. t (skin pass) CIF for both domestic and overseas sales for November 20 shipments, or fourth price increase since June