China’s steel exports surge nearly 50%, y-o-y, in May

Steel exports by Chinese mills surged 47% y-o-y to 7.76 mnt in May’22 compared with 5.27 mnt in May’21, as per General Administration of Customs data. On a monthly basis, exports jumped 56% amidst subdued domestic demand due to COVID outbreak. During Jan-May’22, exports recorded a decline of 16% y-o-y to 26 mnt.