China-Finished Steel Exports Plummet 30% Y-o-Y in Aug’17

China finished steel exports dropped significantly by 30% on yearly basis and stood at 6.3 MnT in Aug’17 against  9.01 MnT in Aug'16.

However M-o-M basis, China’s steel exports reduced by 9.4% in Aug’17 in contrast to 6.96 MnT in Jul’17.

In the tenure of first eight months (Jan-Aug) of CY17 China’s steel exports tumbled by 29% and stood at 54.27 MnT, against 76.57 MnT in the similar time-frame of previous year.

Strong Domestic Demand and trade barriers lead to fall in export volumes
Imposition of trade barriers like anti dumping duty from U.S,India and Europe can be the major reason behind falling of export volumes from China.Besides,this Chinese manufacturing and infrastructure sectors is growing strongly.The resilient demand for finished steel supports the higher domestic prices in China resulting in resistance among the Chinese manufacturers to export huge volumes in global market.

Chinese steel imports surged by 13% Y-o-Y in Aug’17-Chinese steel imports witnessed the rise of 13%,Y-o-Y basis to 1.25 MnT in Aug’17 in contrast to 1.11 MnT in Aug’16. On monthly basis nation’s flat steel imports zoomed by 28% in Aug’17 compared to 0.98 MnT in Jul’17.

During Jan-Aug of 2017 nation’s finished steel imports recorded the growth of 4% to 9.03 MnT against 8.67 MnT in similar time span of previous year.