In May this year, China’s exports of finished steel reached 9.631 million tons, up 4.4% month-on-month and 15.3% year-on-year, according to the latest data from the General Administration of Customs of China.
China’s domestic market demand was weaker than expected in May so steel exports rose compared to April exports.
From January to May this year, China’s exports of finished steel rose 24.7% year on year to 44.655 million tons.
The pace of increase was slightly slower than during the first four months of this year, at 27%, but still indicates insufficient domestic consumption, despite a decline in steel production of 10.6 million tons in the period from January to April.
China’s total imports of finished steel reached 637,000 tons in May, down 3.2% month-on-month. In the first five months of this year, China imported 3.043 million tons of finished steel, a decrease of 2.7% year on year.
