According to the preliminary customs data released by the government, China’s steel export have registered a fall of 2.33% in Sep’16 against previous month of Aug’16. The same stood at 9.01 MnT and 8.80 MnT in Aug’16 and Sep’16 respectively.
If Y-o-Y comparison is to be done, country’s steel exports have registered a fall of 21.84% in Sep’16 against Sep’15. The reason for sharp decline in country’s Y-o-Y export is increase in domestic steel prices in current year 2016 against previous year which has encouraged sellers to focus more on domestic market as compared to export sales.
In first nine months of 2016 from Jan to Sep, China’s steel export stand at 85.37 MnT, up by 2.50% against 83.28 MnT in first nine months of 2015.
China’s Steel Import
China is a net exporter of steel and its finished steel import stands to be much lower in comparison to its export. In Sep’16, China’s steel import stands at 1.13 MnT against 1.11 MnT in previous month of Aug’16. On Y-o-Y basis, the same is up by 11% in current year as it was 1.02 MnT in Sep’15.
In first nine months of 2016 from Jan to Sep, China’s steel exports stand at 9.80 Mnt which was 9.78 MnT in corresponding period of previous year.
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