China: Steel exports drop 3% m-o-m in Sept’21

China’s steel export volumes stood at 4.90 mn t in Sept’21, down 3% as against 5.05 mn t in the previous month, according to the General Administration of Customs, China. Since China has removed rebates and has maintained an air of uncertainty over the imposition of export duty on HRCs since May’21, exports from the country have witnessed a consistent fall from Jul’21. In addition, mills are more focused on domestic consumption owing to production cuts in China. However, exports volumes jumped 28% on a y-o-y basis.