China: Steel exports drop nearly 9% on month in Oct’21

China has recorded a decrease of 9%, m-o-m, in steel exports in Oct’21, as per customs data accessed by SteelMint. Exports totalled 4.5 mn t in Oct compared to 4.92 mn t in Sep. China’s steel exports stood at 57.5 mn t in Jan-Oct’21, up 29% y-o-y. China has slashed export rebates to conserve steel for domestic use amidst output curbs.