World’s steel giant, China seems to be marching ahead on its promised path to curb overcapacity and excessive exports by reporting month-on-month fall in its export numbers especially since last three months.
According to Chinese customs data, in Aug’16, country’s steel exports registered a fall of 12.52% against Jul’16 and stood at 10.3 MnT. The same was recorded at 9.01 MnT in Jul’16.
Also if Y-o-Y comparison is made, Chinese steel exports declined by 7.4% in Aug’16 against Aug’15.
However, there is another angle to the story as the industry analysts believe that, this fall in exports is majorly driven by trade restrictions imposed by various nations on Chinese imports.
Also it is being supposed that the production cuts happening in the county are only temporary phase induced from pollution control measures and that the production will be resumed once the steel prices start rallying . Thus, the export trend of the country for upcoming months remains uncertain.
During Jan – Aug 2016, country’s steel exports stood at 76.57 MnT up by 6.3%, which was 76.35 MnT in the consecutive time frame of previous year.
Chinese Steel Imports
China’s steel imports have registered a marginal fall of 0.9% in Aug’16 against Jul’16 and is recorded at 1.13MnT. However on Y-o-Y basis,country’s imports have increased by 8.08% as the same stood at 1.02 MnT in Aug’15..
In the first eight months of 2016 (Jan-Aug), country imported 8.70 MnT of steel down by 0.2% against corresponding period of previous year.
Leave a Reply