Chinese steel export volumes have been falling considerably this year amid stronger domestic demand and imposed trade barriers. During Jan-Aug’17 China’s steel exports tumbled by 29% and stood at 54.27 MnT, against 76.57 MnT in the similar time-frame of previous year.
China exports steel to around 220 countries and territories. During Jan-Aug’17, South Korea imported 8.55 MnT finished steel from China occupying a share of 16%. Other major importers were Vietnam (5.57 MnT), Phillipines (2.96 MnT), Thailand (2.2 MnT) and Indonesia 2 MnT.
In Aug’17, South Korea imported 0.94 MnT finished steel from China followed by Vietnam at 0.68 MnT and Thailand 0.34 MnT. India turned out to be the 4th largest steel importer from China in Aug’17 at 0.29 MnT.
Country-wise China steel exports:
|
Importing Countries |
Jan-Aug’17 |
Aug’17 |
| South Korea | 8.55 | 0.94 |
| Vietnam | 5.57 | 0.68 |
| Philippine | 2.96 | 0.295 |
| Thailand | 2.22 | 0.34 |
| Indonesia | 2.00 | 0.25 |
| India | 1.82 | 0.29 |
| Pakistan | 1.67 | 0.23 |
| Hong Kong | 1.31 | 0.09 |
| Malaysia | 1.29 | 0.17 |
| Taiwan | 1.22 | 0.17 |
| Others | 25.86 | 3.06 |
| Total | 54.47 | 6.51 |
Fig in MnT
Source: SteelMint Research
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