China’s Jan-Nov steel exports dip faster by 6.5% on year
Source: Mysteel
Dec 09, 2019 12:30
A steel trader in East China’s Jiangsu province agreed, admitting that it was more about lack of pricing competitiveness than weakening global demand.
“The situation is getting worse and our steel exports for December may very likely dip further from November, as the strengthening in the domestic HRC price in November had forced export prices to grow, and as of late November, our HRC offering price rose over $10/t from the previous month,” he said.
Mysteel’s export offering for SS400 grade 4.75mm HRC was reported at $454/t FOB Bayuquan in Northeast China’s Liaoning province as of December 6, up from $435/t as of November 8, as Mysteel Global reported.
A Beijing-based steel analyst, thus, predicted that “it seems that China’s 2019 steel exports may cap at 65 million tonnes, and next year’s steel exports may fall below 60 million tonnes”.
As for steel imports, China bought 10.8 million tonnes of finished steel over January-November, down 11% on year and the tonnage for November alone grew 1.7% on month but declined 8.4% on year to about 1 million tonnes, according to the statistics.
China imports about 10 million tonnes of steel annually mainly to make up for the some high-end and niche products that the country has yet been able to supply itself.
Written by Anna Wu, wub@mysteel.com
Edited by Hongmei Li, li.hongmei@mysteel.com
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