China’s domestic steel demand in April remained lower year on year, according to calculations by S&P Global Commodity Insights based on steel export and output data May 20.

Market participants expected domestic demand in May and June could increase from April but likely remain below year earlier levels.

China’s steel exports, correlating with sluggish domestic demand, may remain strong in the foreseeable future, according to market sources.

Total exports in April China’s net exports of semi-finished and finished steel in April increased 13.9% on the year to 8.746 million mt, data from China Customs showed May 20. Net exports in April fell 7.4% on the month but were still the highest since July 2016, according to calculations by Commodity Insights based on customs data.

In the first four months of 2024, net exports of semi-finished and finished steel increased 29.1%, or 7.31 million mt, on the year to 32.459 million mt.