Chinese Steel Export Likely to Touch 100 MnT till 2015 End

Chinese steel export surged by 16% M-o-M in Sept’15.

China is focusing more on steel export owing to dull domestic demand. In Sept’15, shipments from China stood at 11.3 MnT; up by 16% as compared to 9.7 MnT in previous month, as per custom data released.

Now, three Chinese steelmakers namely Hebei Jinxi Iron & Steel, Rizhao Steel and Jinangyin Xicheng Steel have received BIS Certificate from Indian Regulation Board as per IS 1786 specification.

If we compare Y-o-Y, steel export in Sept’15 surged by 33% to 8.5 MnT. In the 1st nine months (Jan-Sept’15) of 2015, China exported 83.1 MnT of finished steel (up by 27%) in contrast to 65.3 MnT in the same period last year.

It is anticipated that Chinese steel export will touch 100 MnT till the end of 2015.

As per World Steel Association, “China’s steel demand will probably reduce by 3.5% in the current year and by another 2% in 2016.

Global rebar offer as on 14 Oct’15

USD 1= INR 65.16