World’s largest steel manufacturer, China’s steel exports have risen once again by 16% M-o-M basis in Jun’16 and is recorded at 10.94 MnT during the month against 9.42 MnT in May ’16.
During Mar-Apr’16, there was sudden plunge in country’s domestic steel prices amid bullish sentiments resulting which export prices also increased significantly.
Meanwhile, overseas buyers booked substantial quantity of export shipments from China for June deliveries in anticipation that prices may increase further. Thus, the effect of same can be seen in the form of increased export numbers of Jun’16.
If Y-o-Y comparison is done, country’s steel exports in Jun’16 is up by 23% against corresponding month of previous year as the same stood at 8.91 MnT in Jun’15.
In first six months of the year 2016 (Jan – June), country exported 57.26 Mnt of steel which is up by 9% from corresponding period of previous year.
As per country’s Customs data, country imported 6.46 MnT of finished steel in first six months of 2016, which is 2.8% down against first half of previous year 2015.
Leave a Reply