China exported 6.49 million mt of steel in April, down 14% from March and down 29% year on year, preliminary data released Monday by the General Administration of Customs showed.

Over January-April, steel exports totaled 27.21 million mt, down 26% year on year, the data showed.

The decline in April exports was within market expectations, as April shipments were mostly booked in February and early March, when Chinese steel mills were opting to sell more in the domestic market, where prices at the time were yielding higher profits than exports.

The April total was the second lowest in 2017 to date after February's 5.75 million mt. Meanwhile, China's steel imports totaled 1.08 million mt in April, down 17% from March and down 2% year on year.

Over January-April, imports were up 8% year on year at 4.56 million mt.China's net steel exports in April stood at 5.41 million mt, down 14% on month and down 32% year on year. Over January-April, net steel exports stood at 22.65 million mt, down 31% year on year.

 

Source:platts.com

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