According to the preliminary custom data,China’s Flat steel export plunged by 14% on monthly basis in Dec’16 to 7 MnT as compared to previous month.In Nov’16 country’s flat steel exports is recorded at 8.12 MnT.
On yearly basis,China’s flat steel exports registered the significant fall of 34% in Dec’16 against Dec’15. In Dec’15,the same stood at 10.66 MnT.
Although,in the year 2016,from Jan-Dec,nation’s flat steel exports registered the marginal fall of 4% to 108 MnT against 112.56 MnT in the similar time period of previous year.
As various trade restrictions have been imposed in Chinese Flat products,leading to subsequent fall in export numbers.
Chinese flat steel export offers increased significantly in Q4 2016
Amid increased cost of coking coal, Chinese flat steel export offers surged in Q4 2016. For instance HRC export offers from China stood at USD 446/MT, FoB in Q4 2016 compared to USD 290/MT, FoB in Q1 2016.
China to raise its crude steel output to 825 MnT in 2017
Chinese mills are planning to ramp up with the production capacity in 2017. As per reports, China will produce 825 MnT of crude steel in 2017 however most of it will be utilized to fulfill domestic demand instead of exploring export options.
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