China exported 8.12 MnT steel in Nov’16, down by 15% Y-o-Y.
According to the latest customs data, Chinese steel exports decline further in Nov’16 significantly by 15% Y-o-Y basis to 8.12 MnT. The same stood at 9.60 MnT in Nov’15.The Chinese steel exports fell for the fourth consecutive month owing to unpredictable export offers in domestic market.
However, on monthly premises nation’s steel export rose by 5.5% in Nov’16 as compared to the Oct’16. In Oct ‘16 the country’s exports stood at 7.7 MnT.
In eleven months (Jan-Nov) of 2016,Chinese steel exports move down to 0.6% to 101.90 MnT against 101.19 MnT in same time period of previous year.
Although anti dumping duty is imposed on China’s exports by USA and European steel makers hence Chinese manufacturers have lost the two major markets and had witnessed the consistent downfall in volumes of exports.
Chinese steel imports up by 3% M-o-M
Chinese steel imports jumped by 3 % on M-o-M analysis to 1.11 MnT in Nov’ 16 as compare to previous month. In Oct’16 the nation’s imports stood at 1.08 MnT.
However,imports have spiked this year in Nov’16 by 21%,Y-o-Y basis compared to 0.92 MnT last year in Nov’15.
Although, in eleven months of 2016 (Jan-Nov) China’s steel imports also rose by 3% to 11.99 MnT against 11.65 MnT in similar time frame of previous year.
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