Chinese steel exports up by 16% y-o-y in Mar ’21 on strong overseas demand

China’s steel export volumes reported surge by 16% annually to 7.5 mn t in Mar ’21, as per the data released by General Administration of Customs. Last year, the export volumes stood at around 6.48 mn t. A surge in export offers along with healthy downstream demand in overseas market led to increased export volumes. The monthly average export offer for HRC (SS400) stood at $754/t FoB China basis in Mar ’21 contrasted against $665/t FoB basis in Feb ’21.