China’s steel exports decline as imports rise in H1 2022

China exported 7.557 million mt of finished steel in June. And though the figure is up 17 % year on year, it is down 2.6% month on month, as announced by the Chinese customs authorities on July 14.

Following the sharp increase in May, exports retreated slightly, but in the coming months’exports are expected to be relatively strong due to slack local demand in China.

In the first six months of the current year, China exported 33.461 million mt of finished steel, down 10.5 % yearly.

The volume still indicates a reduction compared to last year, but the pace of the decrease has slowed from 16.2 % in the first five months of the year.

In June this year, China imported 791,000 mt of finished steel, down 36.72 % yearly and 1.86 percent monthly. Finished steel imports have been moving down continuously this year. In the January – June period this year, China imported 5.771 million mt of finished steel, down 21.5 % year on year. The pace of the decline increased from 8.3 % in the January- May period this year.

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