According to China Customs, the country’s semi-finished steel exports reached 275,000 mt in November, soaring from just 38,000 mt in the same month of 2022.

In the first 11 months, semi-finished steel exports were more than three time higher than in the same period last year at 3.016 million mt.

In November, total steel exports, semi-finished and finished steel combined, were up by 0.7% month on month and 47.1% higher year on year at 8.228 million mt. Over January-November, China’s exports of semi-finished and finished steel increased by 38.4%, or 23.75 million mt, year on year to 85.674 million mt.

Meanwhile, semi-finished steel imports in November were 55.9% higher year on year at 256,000 mt, customs data showed.

The jump was due to a low base seen a year ago when China was hit by the coronavirus.

Total imports of semi-finished and finished steel in the first 11 months of the year fell 39.5% year on year to 9.739 million mt, according to customs data.