As per statistics from General Administration of Customs, China exported steel of 4.92 million tons in September, up 1.092 million tons or 28.5% year on year. Steel import in September totaled 1.256 million tons, down 1.629 million tons or 56.5% year on year.

          In January-September, China steel export reached 53.024 million tons, up 12.643 million tons or 31.3% yoy. Steel import in the same period was 10.716 million tons, down 4.354 million tons or 28.9% year on year.

          According to SteelHome research team, China’s steel export still maintained high, which was related to the orders before the adjustment of the export tax rebate in the previous period. At present, orders received by steel mills are reducing significantly, mainly for following reasons. Firstly, Chinese steel export prices have no price advantage after the export tax rebate was canceled. Secondly, global steel prices continued falling and prices in certain markets were lower than the Chinese domestic one. Thirdly, CISA proposed to reduce steel export and guarantee domestic supply, thus steel mills are reluctant to receive regular products orders. SteelHome predicts that China’s steel export will keep falling in October. 

--- SteelHome