In first quarter of 2017, China’s flat steel exports summed up to 20.73 MnT down by 26% when compared with 27.83 MnT in the same period last year.
China-world’s steel exporter has witnessed the significant fall of 24% Y-o-Y in its steel exports as compared to last year. China’s steel exports stood at 7.56 MnT in Mar’17 against 9.98 MnT in Mar’16.
However,on monthly basis, China’s steel exports have surged by whopping 31.4% in Mar’17 against previous month.In Feb’17 nation’s steel exports stood at 5.75 MnT.
Higher Domestic Prices Leads to Fall in Export Volumes
Rise in prices has bought export volumes to the lower levels owing to softening of demand both in global as well as domestic market. As overseas buyers remained inactive coupled with lesser buying inquiries leads to decline in export volumes
Since HRC export offers have also slumped by USD 30-35/MT last week and hovering in the range of USD 440-445/MT, FoB China.Hence,this can be taken as the positive sign for the exports returning back gradually in the global market.
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