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China’s Steel Exports In May Dip 17% YoY

Steel News - Published on Tue, 11 Jun 2019

Image Source: Caixin Global
2019 fell 16.6% YoY to 5.743 million tonnes and were down 9.2% MoM. Over January-May, China's steel exports totaled 29.093 million tonnes, up 2.5% YoY. Market insiders attributed the decline to softening overseas demand, as well as the still-uncompetitive prices of Chinese steel internationally. They said "Demand in South Korea and Vietnam is weak these days. Also, the price of Chinese products has become uncompetitive in global markets, especially when compared with India-origin steel products which are priced comparatively lower than those from other regions."

Meanwhile, China’s steel imports totaled 0.982 million tonnes in May, down 13.4% YoY and down 1.8% MoM. Over January-May, imports were down 13.4% YoY at 4.878 million tonnes.

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Posted By : Sanju Moirangthem on Tue, 11 Jun 2019
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