China: Finished Steel Export Rises 4% M-o-M in Feb'18

Chinese finished steel export volumes witness growth on monthly basis to 4.85 MnT in Feb'18, according to the recent data released by Chinese customs. Nation's finished flat export volumes observed increase of 4% in Feb'18 as compared to 4.65 MnT in Jan'18.

On monthly average basis China's HRC export offers stood at USD 573/MT FoB China in Jan'18 which was at similar level in the previous month. Boosted by domestic demand, Chinese mills raised offers for HRC exports further in Feb'18.

However on yearly basis nation's finished steel export volumes plunged by 16% to 4.85 MnT in Feb'18 against 5.75 MnT in Feb'17. Strong demand in domestic market along with production cuts as directed by Chinese government to control pollution has in turn led to slump in export volumes on yearly premises.

Domestic HRC prices in China remained mostly stable and were assessed at RMB 4,100-4,170/MT (ex-works) in Feb'18 owing to limited trade activities amid Lunar New Year holidays.

In CY17 nation's finished steel export volumes slashed by 31% Y-o-Y to 75.43 MnT as compared to 108.43 MnT in CY16.

Chinese Finished Steel Imports fall by 14% M-o-M in Feb'18-Chinese finished steel imports stood at 1.03 MnT in Feb'18, down 14% M-o-M compared to 1.19 MnT in Jan'18. In contrast to Feb'17, steel imports are down by 6% as it was 1.09 MnT against Feb'18.