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China’s steel bar exports rise strongly in Oct, with expectations of an increase in November

In October this year, China’s exports of steel bars amounted to 0.65 million mt, up 79.5% year on year and rising by 14 % month on month, while exports of wire rod and angles/channels amounted to 160,000 mt and 320,000 mt, up 4.0 % and up 151 % year on year, while increasing by 6.7 % and falling by
8.6 % month on month, respectively, according to the Chinese customs authorities.

Ex-China rebar export prices moved down since the middle of October as local demand was not as good as expected and due to the decreasing trend of rebar futures prices.

November rebar export volumes are expected to be on the higher side too.

In the January-October period of the current year, China’s exports of steel bars totaled 6.18 million mt, down 12.8 % year on year, while wire rod exports amounted to 1.7 million mt, down 0.9 % year on year.

At the same time, China’s export volumes of angles/channels came to 3.05 million mt in the given period, up 38.6 % year on year, 7.4 percentage points faster than the year-on-year rise recorded in the first nine months of the year.

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