Chinese Finished Steel Exports Remain Stable in Apr’19
As per latest data released by Chinese customs, nation’s finished steel exports in Apr’19 stood at 6.33 MnT, unchanged as compared to previous month.
Higher steel prices amid robust demand in nation’s domestic market have kept export volumes stable in Apr’19. Meanwhile sluggish trades to Vietnam in the month of April amid competitive offers from Russian and Indian steel mills led Chinese export volumes firm in this month.
Chinese HRC export offers in Jan-Mar'19- On an average basis Chinese HRC export offers stood at USD 532/MT FoB basis in Mar’19 which was USD 506/MT in Feb’19.
Meanwhile as per Chinese government restrictions to curb excess steel capacity and to protect environment may tight supply and in turn result to surge in domestic steel prices and lower export volumes in upcoming months. Chinese steel mills in Tangshan and Handan regions will continue the production cuts in the second quarter (Apr-Jun). The average production cuts would be around 20 percent throughout April to June.
Whereas on yearly premise nation’s finished steel exports reported marginal decline of 2.3% in Apr’19 from 6.187 MnT in Apr’18
During the first four months (Jan-Apr) CY’19 nation’s finished steel exports accounted for 23.35 MnT, increased by 8.3% in comparison to 21.56 MnT in (Jan-Apr) CY’18.
source: SteelMint
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