中文
China's steel exports increased significantly in the first half of 2023, highlighting the continued competitiveness in the global market, said Tan Chengxu, president of the China Iron and Steel Association, at an industry meeting during July 29-30.
During the first six months, China's steel exports reached 43.58 million tonnes, representing a YoY increase of 31.3%, customs data showed. Additionally, steel billet exports amounted to 1.67 million tonnes, soaring 112.6% YoY.
On the other hand, steel imports declined significantly by 35.2% from the same period last year to 3.74 million tonnes, and steel billet imports slumped 68.5% to 1.18 million tonnes.
Tan emphasized the substantial increase in steel exports during the first half of the year helped ease domestic market supply and demand pressures.
However, despite the surge in steel exports, the average export prices declined YoY. In H1 2023, the average export price for Chinese steel stood at $1,075/t, marking a 24.7% YoY decrease. Conversely, the average import price reached $1,718/t, an increase of 10.2% YoY.
Out of the 21 major finished steel categories, only cold-rolled sheets, electrical steel plates, and cold-rolled strips experienced a decrease in exports, while the other 18 categories saw increased export volumes. Among them, 17 categories exhibited growth rates exceeding 10%, with thick plates and rebars achieving growth rates surpassing 100%.
The primary destination for China's steel exports remained Asian countries, but substantial export growth to Brazil, the United Arab Emirates, Saudi Arabia, and Turkey – all experiencing YoY increases of over 60% – was observed.
Looking ahead, Tan expected the growth rate of China's steel exports to narrow in the second half of the year, while imports are likely to remain at low levels. Given the global economic slowdown and other factors, the growth potential for China's steel indirect exports is limited, with overall exports expected to maintain relative stability throughout the year.
(Writing by Alex Guo Editing by Harry Huo)
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