As per the data released by customs, Chinese finished steel exports registered a marginal increase of 4% Q-o-Q basis in (Jan-Mar) Q1 CY’19 to 17.025 MnT in comparison to 16.306 MnT in (Jan- Mar) Q4CY’18.
Nation’s steel export volumes reported increase in this quarter as buyers were actively restocking the material amid Lunar New Year holidays.
Meanwhile post Tet holidays, steel mills in Vietnam have also imported volumes of HRC from China.
Chinese HRC export offers in Jan-Mar’19 – On an average basis Chinese HRC export offers stood at USD 488/MT FoB China in Jan-Mar’19 decline by 17% against USD 585/MT FoB basis in Jan-Mar’18.
Whereas on monthly premises nation’s finished steel exports moved up by 40% on monthly basis to 6.327 MnT in Mar’19 in contrast to 4.512 MnT in Feb’19. Domestic demand has remained weak resulting in strong bookings for export.
Chinese finished steel imports in Jan-Mar’19- Nation’s finished steel imports stood at 2.89 MnT in Jan -Mar’19 fell by 16% against 3.44 MnT in Jan-Mar’18.
However on monthly premises the imports moved up by 10% in Mar’19 to 0.899 MnT against 0.819 MnT in Feb’18.
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