China’s Oct flat steel exports up further on month

Source: Mysteel Nov 26, 2020 15:00

China exported 2.4 million tonnes of flat steel products in October, which was higher by 200,000 tonnes or 9% from September and making for the second successive on-month rise, according to the latest statistics from China’s General Administration of Customs (GACC). The uptick in exports reflected Chinese mills and traders hurrying to fill a shortage of supply of finished steel in international markets, plus the narrowing price gap which China’s exporters had identified between domestic and export prices.

Last month’s result meant that over January to October, China shipped 26.9 million tonnes of flat steel products abroad, which was lower by 18.7% on year, the GACC data showed. However, the pace of the decline was fractionally slower than the 19% on-year drop over January-September, Mysteel Global notes. The

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