China: Finished Steel Exports Fall 9% in May'19

According to latest data released by Chinese customs, nation’s finished steel exports in May’19 stood at 5.74 MnT, declined by 9% over 6.33 MnT in Apr’19.

Nation’s finished steel exports reported decline amid long stretched US-China trade war which intensified in the month of May when USA govt. announced an increase of trade tariffs from 10% to 25% on USD 200 billion worth of Chinese imports.

This led to pessimistic sentiments both in domestic and overseas market. Falling domestic prices over volatile futures have resulted to weakened export offers. Also softening overseas demand pulled down export volumes in the month of May.

Meanwhile slow buying from end users in Vietnam can also be attributed for falling export volumes from China in May’19.

Whereas on yearly basis nation's finished steel exports plunged by 17% in comparison to 6.88 MnT in corresponding period of previous year.

During first five months (Jan-May) CY'19 nation's exports volume was recorded at 29.09 MnT ,inched up by 2% as compared to 28.51 MnT in similar time frame of CY'18.

Chinese HRC export offers in May’19- On an average basis Chinese HRC export offers stood at USD 534/MT FoB basis in Apr’19 which was USD 532/MT in Mar’19. However export offers remain largely stable but buying remain subdued in overseas market.

Chinese steel imports fell by 2% M-o-M in May’19- Nation’s finished steel imports accounted for 0.98 MnT in May’19 inched down by 2% against 1 MnT in Apr’19.

On yearly premise the imports were down by 13% in May’19 against 1.13 MnT in May’18.

Meanwhile, during first five months (Jan-May) in CY’19 the imports were 4.87 MnT against 5.32 MnT in similar period of previous year.

News No: 4810
Date: 2019/06/11 - 22:19
News Source: SteelMint

China  Steel  Export  custom  HRC 


Leave a Comment:


Japan: Tokyo Steel Cuts Scrap Purchase Price Further by USD 5

As per new price circular released, Japan’s leading EAF mini-mill - Tokyo Steel has lowered the domestic H2 scrap purchase price by JPY 500/MT (USD 5) at all five works in Japan. New prices for all grades shall be effective from tomorrow (15th June'19)

What Happened in China’s Graphite Electrodes Market this Week?

The Chinese graphite electrodes prices especially that of UHP grade continues to remain stable this week. The current prices in China of UHP grade GE of size 450mm are heard to be in the range of RMB 24,000 – 26,000/MT (USD 3,470 – 3,760/MT) whereas that of size 600mm are in the range of RMB 48,000 – 60,000/MT (USD 6,940 – 8,675/MT).

Indian Sponge Iron Export Prices Fall in Recent Deals

Amid falling Indian domestic sponge prices & decline in Bangladesh imported scrap prices, Indian sponge iron export offers have come down by USD 10-15/MT in recent deals reported, as per assessment made by SteelMint.

India: Imported Scrap Prices Inch Down in Recent Deals

SteelMint learned from industry participants that Indian imported scrap prices inch down on a weekly basis in limited deals reported. Following continued global price fall, Indian scrap importers remain majorly cautious before buying actively amid weakening local semi-finish prices and still subdued finish steel demand.

Chinese Crude Steel Output Hits Record High in May’19

As per the recent data released by NBS (National Bureau of Statistics), Chinese crude steel output records new high in May’19 at 89.09 MnT.

What does June 2019 have in Store for Global Steel Market?

The two key raw material for steel production, Iron Ore and Scrap prices are moving in opposite directions. The Vale disaster at the Brumadinho tailing dam in late January this year has led to a cut in iron ore supplies, and a spike in spot prices making them to hit five years high, leaving no margins for blast furnaces.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners