China’s May steel exports tumble 34% on-month

Source: Mysteel Jun 07, 2021 15:45

China exported 5.3 million tonnes of finished steel in May, which was lower by a huge 33.9% from the 53-month high of nearly 8 million tonnes reached in April, according to the latest statistics from China’s General Administration of Customs (GACC) published on June 7. Market sources commenting on the GACC statistics said the on-month plunge was a consequence of Beijing’s earlier announcement regarding steel export rebates which had prompted exporters to throttle-back their pace of shipping.

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