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China’s Jan-May steel exports down 14%, imports up 12%

World, Steel News

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.

 

 

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