According to the recent data released by Chinese customs, China’s finished steel exports recorded increase of 15% on monthly basis to 6.48 MnT in Apr’18 which was 5.65 MnT a month ago.
Chinese HRC export offers on monthly average basis increased marginally to USD 593/MT, FoB in Mar’18 against USD 590/MT, FoB in Feb’18. On the other hand, domestic HRC prices in China fell from RMB 4,170-4,190/MT (ex-works) in beginning of March to RMB 3,860-3,880/MT (ex-works) by month end.
Thus, nation witnessed rise in monthly export volumes due to its competitive pricing compared with those international suppliers whose HRC export offers have remained on higher side.
However on yearly basis nation’s flat steel export volumes remain largely stable compared to 6.49 MnT in Apr’17.
Meanwhile in first four months of CY18 ( Jan-Apr) nation’s finished steel export volumes stood at 21.63 MnT, down by 21% to 27.22 MnT in similar time frame of previous year. Steel capacity cuts to curb pollution and overcapacity has resulted in fall in export volumes from China.
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