China – world’s largest steel exporter has reported the downfall of 2.4% ,M-o-M basis in its steel exports to 6.81 MnT in Jun’17 as compared to May’17. Nation’s finished steel exports stood at 6.98 MnT in May’17.
However on yearly basis, China’s steel exports have witnessed decline of 38% in Jun’17 to 10.94 MnT in Jun’16.
In first half (Jan-Jun) of CY17 China’s steel exports shrink drastically by 28.3% Y-o-Y and stood at 41.01 MnT, against 57.26 MnT in the similar time-frame of previous year.
Chinese steel mills focussed on domestic market – The tight supply coupled with strong domestic prices has motivated the Chinese mills to focus more on domestic market. Overseas buyers remained less attractive owing to higher prices.
Moreover ,Chinese steel mills have started taking steps towards resolving supply glut and pollution related problems by eliminating 120 MnT of low quality steel in first half of 2017.
Chinese steel imports rises 5% Y-o-Y in H1 CY17-Chinese steel imports witness the rise of 2%,M-o-M basis to 1.13 MnT in Jun’17 in contrast to 1.11 MnT in May’17.However on yearly basis nation’s flat steel imports remain at similar levels compared with last year.
In first half of 2017 nation’s steel imports recorded the growth of 5% Y-o-Y to 6.8 MnT against similar time span of previous year.
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