According to latest data released by Chinese customs, nation’s finished steel exports stood 17.37 MnT in Q2CY19 moved up slightly by 2% as compared to 17.02 MnT in previous quarter.
Thus in Q2CY19 Chinese HRC export offers on an average basis stood at USD 518/MT FoB basis which was USD 509/MT FoB basis in last quarter.In the month of Jun’19 resumed trade talks between USA and China along with easing production cuts in Tanghsan region till the month of Jul’19 leads to optimistic sentiments both in domestic and export market.
Nation’s finished steel exports decline by 8%M-o-M- On monthly basis nation’s finished steel exports stood at 5.306 MnT in Jun’19 fell by 8% against 5.743 MnT in May’19. Since end users in Vietnam were preferring imported HRC from India compared to China amid competitive offers in Jun’19.
Whereas on yearly basis nation’s finished steel exports plunged by 24% in comparison to 6.94 MnT in Jun’18.
Chinese steel imports up by 1% Q-o-Q in Q2CY’19- Nation’s finished steel imports inched up by 1% to 2.93 MnT in Q2CY’19 as against 2.90 MnT in Q1CY’19.
Meanwhile on monthly basis nation’s finished steel imports accounted for 0.95 MnT in Jun’19 fell by 3% against 0.98 MnT in May’19.
On yearly premise the same declined by 9% in Jun’19 against 1.04 MnT in Jun’18.
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