In April, China exported 10.462 million mt of finished steel, up 13.4% year over year, hitting the fourth-highest level in history,

China Customs data showed. Daily steel exports averaged 348,733 mt in April, up 3.4% from the average in March. Over January-April, China’s finished steel exports increased 8.2%, or 2.865 million mt, year over year to 37.891 million mt.

Trading sources attributed the strong exports to competitive steel prices, an export rush amid growing concerns around global trade barriers, and China’s potential efforts to crack down on taxevading trades.

China’s manufacturing at more than 2-year low,  China’s manufacturing activity swung to contraction in April, with the index for the sector’s export orders falling to its lowest level since the country’s economy reopened following the pandemic in late 2022, data from the National Bureau of Statistics showed.

 China’s manufacturing industry Purchasing Managers’ Index fell to 49 points in April from 50.5 points in March, contracting after expanding in February and March, according to NBS data. A reading below 50 indicates a contraction. The manufacturing PMI in April fell to its lowest level since December 2023.