China’s finished steel export volumes slashed by 37% Y-o-Y to 4.65 MnT in Jan’18 as compared to 7.42 MnT in Jan’17. Chinese steel export volumes in Jan’18 are lowest since Feb’13. Thus export volumes have slumped to nearly five years low.
Domestic HRC prices in China moved up in mid of Nov’17 and remained on higher side till early Dec’17 resulting in improved interest in domestic market. Domestic HRC prices in China moved up from RMB 4,050-4,030/MT to RMB 4,250-4,360/MT during the said time frame. HRC export offers moved up from USD 545/MT, FoB to USD 580/MT, FoB.
On monthly basis also nation’s finished flat export volumes reported decline of 18% as compared to 5.67 MnT in Dec’17.
China’s finished steel export volumes slashed by 31% Y-o-Y to 75.43 MnT in CY17 as compared to 108.43 MnT in CY16. Higher prices in domestic market lessened interest of steel mills in exports. Yearly average price of HRC increased by about 36% Y-o-Y to USD 510/MT, FoB in CY17. Similarly Rebar export offers climbed by 44% Y-o-Y in CY17
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