Chinese steel export volumes have been falling considerably this year amid stronger domestic demand and imposed trade barriers. During Jan-Oct’17 China’s steel exports tumbled by 31% and stood at 64.58 MnT, against 93.07 MnT in the similar time-frame of previous year.
China exports steel to around 220 countries and territories. During Jan-Oct’17, South Korea imported 9.99 MnT finished steel from China occupying a share of 15%. Other major importers were Vietnam (6.67 MnT), Phillipines (3.53 MnT), Indonesia (2.39 MnT) and Thailand (2.68 MnT).
In Oct’17, South Korea imported 0.69 MnT finished steel from China followed by Vietnam at 0.62 MnT and Philippines 0.3 MnT. India turned out to be the 6th largest steel importer from China in Oct’17 at 0.21 MnT.
Country-wise China steel exports:
|
Importing Countries |
Jan-Oct’17 |
Oct’17 |
| South Korea | 9.99 | 0.69 |
| Vietnam | 6.67 | 0.62 |
| Philippine | 3.53 | 0.30 |
| Indonesia | 2.39 | 0.22 |
| Thailand | 2.68 | 0.22 |
| India | 2.21 | 0.21 |
| Pakistan | 1.97 | 0.11 |
| Hong Kong | 1.53 | 0.11 |
| Malaysia | 1.54 | 0.12 |
| Taiwan | 1.40 | 0.10 |
| Others | 30.68 | 2.28 |
| Total | 64.58 | 4.98 |
Fig in MnT
Source: SteelMint Research
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