Chinese Finished Steel Exports Record Seven Months High in Jan’19
According to Chinese customs data released recently nation’s finished steel exports reported an increase of 11% to 6.188 MnT in Jan’19 in contrast to 5.556 MnT in Dec’18.
Thus nation’s export volumes hit nearly seven months high as the same levels were last seen in the month of June’18 at 6.9 MnT.
Nation’s steel export volumes reported surge in Jan’19 as buyers were actively restocking the material post christmas holidays scheduled in the last week of December. Also Lunar New Year holidays was also approaching in month of Feb’19 which lead to surge in export volumes from China.
Meanwhile on yearly basis the same jumped by 33% to 6.188 MnT in Jan’19 as compared to 4.65 MnT in previous year.
In CY18 nation’s finished steel exports plunged by 8% to 69.47 MnT in CY18 as compared to 75.41 MnT in CY17.
Chinese HRC exports offers in Jan’19- As per the data maintained with SteelMint nation’s HRC export offers on an average basis stood around USD 450/MT FoB China in Jan'19 which was USD 465/MT FoB basis in Dec’18.
Chinese steel imports ascends by 17% in Jan’19- Nation’s steel imports stood at 1.179 MnT in Jan’19 registered an increase of 17% against 1.006 MnT in Dec’18.
However on yearly premise the same upsurged by 34% in Jan’19 as compared to 0.88 MnT in Jan’18.
source: SteelMint
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