China’s Jan-May steel exports down 14%, imports up 12%
According to the latest figures from China General Administration of Customs (G.A.C.C) on 7th June, over January-May, China’s steel exports declined sharply by 14% on the year, whereas steel imports rose 12% on the year.
The export decline was sharper than 11.7% for the first four months, with a total volume slightly above 25 million tonnes.
China’s steel exports had increased in March and April, principally to achieve the deals signed two months ago, as COVID-19 outbreak deprived economic activities and logistics.
China’s steel exports reached 4.4 million tonnes in May, according to the G.A.C.C data.
In contrast, China’s steel imports rose more considerably than 7.4% on-year increase for the first four months, approximating 5.5 million tonnes over January-May.
China’s steel imports totalled 1.28 million tonnes in May, up from 1 million tonnes in April.