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Were China's steel imports and exports decreasing in July?
2024-09-11
In July, China exported 7.827 million tonnes of steel, a decrease of 918,000 tonnes from a year earlier, and an increase of 519,000 tonnes year-on-year; the average unit price of exports was US$790.1 per tonne, up 2.3% from a year earlier, and down 8.9% year-on-year. 505,000 tonnes of steel were imported in July, a decrease of 70,000 tonnes from a year earlier, and a decrease of 173,000 tonnes year-on-year; the average unit price of imports was US$1,764.0 per tonne , up 9.6% sequentially and 10.1% year-on-year.
January - July, China's exports of steel 61.227 million tonnes, up 21.8% year-on-year; the average unit price of exports of $ 780.2 / tonne, down 24.8% year-on-year; exports of 1.824 million tonnes of billet, a year-on-year decline of 5.6%; net exports of Crude Steel 59.596 million tonnes, up 10.788 million tonnes year-on-year, an increase of 22.1%. China imported 4.122 million tonnes of steel, down 6.7% year-on-year; the average unit price of imports was US$1,664.9 per tonne, down 2.0% year-on-year; imported billet 1,459,000 tonnes, up 7.5% year-on-year.
In July, China's steel exports fell for 2 consecutive months, showing a ‘reduction in the volume of price rise’ characteristics, exports to Vietnam, Turkey fell more significantly.
Most of the steel products exports fell.
In July, most of China's steel product exports fell, ‘the volume of price increases’ feature obvious. The month's export reduction mainly from the medium-thickness wide Steel Strip, accounting for 43.1% of the steel exports, down 35.3% to nearly 18 months the lowest value, its average export price rose 6.9%;hot-rolled steel strip, Steel Bar, seamless steel pipe, plate and other products exports also showed a ‘volume decrease and price rise’.
In addition, the cumulative growth rate of most varieties of exports was decreasing month by month, but the cumulative year-on-year growth in exports of medium-thick plate was 14.2%, expanding by 10.9 percentage points from the beginning of this year.
In July, China's exports of stainless steel 411,000 tonnes, down 9.3%. January - July, China's exports of stainless steel 2,775,000 tonnes, up 19.0% year-on-year. Export increase mainly from Vietnam, stainless steel exports to Vietnam rose 58.4% year-on-year to 252,000 tonnes, the export volume is second only to the export volume to India.
Exports to Vietnam and Turkey fell most significantly.
In July, China's exports to most countries fell, of which to Vietnam, Turkey, the most significant decline; exports to Thailand and Brazil increased.January-July, China's exports to ASEAN 18,814,000 tonnes, an increase of 29.8% year-on-year, of which 6,999,000 tonnes of Vietnam's exports, an increase of 61.5% year-on-year; to the GCC countries exports 6,528,000 tonnes, an increase of 38.5% year-on-year, of which to the United Arab Emirates, Saudi Arabia exports increased by 50.2%, 43.5%. million tonnes, up 38.5% year-on-year, of which exports to the UAE and Saudi Arabia increased by 50.2% and 43.1% year-on-year.
China's exports of primary steel products increased by 14.9%.
In July, China exported 360,000 tonnes of primary iron and steel products, up 14.9% YoY. 1.925 million tonnes of primary iron and steel products were exported from January to July, a year-on-year decrease of 3.5%. Among them, only the export volume of steel billet decreased by 5.6% year-on-year, while all others had different degrees of growth.
Steel imports fell to the lowest level since data available.
In July, steel imports fell to the lowest level since the data, imports from most countries have declined, and cold rolled steel coil imports fell significantly.
The main varieties of imports fell.
In July, the main varieties of imports fell back, imports of reduced volume concentrated in cold rolled coil, including cold rolled steel sheet, cold rolled thin and wide steel strip decreased by 45.9%, 22.3%. January - July, the main varieties of imports continued to decline year-on-year, electrical steel and cold rolled steel and cold rolled thin and wide steel strip decreased by a greater extent, respectively, decreased by 52.6% and 27.9% year-on-year.
In July, China's imports of stainless steel 73,000 tonnes, for three consecutive months of decline, 84,000 tonnes less than in April, of which 61,000 tonnes of cold rolled stainless steel sheet.January - July, China's imports of stainless steel 812,000 tonnes, an increase of 1.9% year-on-year; 648,000 tonnes of imports from Indonesia, a year-on-year increase of 7.5%, accounting for the total imports of 79.7%.
China's imports from most countries and regions to maintain a downward trend.
In July, China's imports from most countries and regions to maintain a declining trend, from Japan, Indonesia, Germany and China Taiwan imports fell 20% and above, only from South Korea's imports have rebounded. January - July, 80% of China's steel imports from Japan, South Korea and Indonesia, from Japan, South Korea imports have declined, only from Indonesia imports increased by 7.4% year-on-year.
In July, China's imports of primary steel products 256,000 tonnes, an increase of 25.1% from a year earlier. Among them, billet imports increased more than 1 times, mainly from Oman and Iran. January - July, China's cumulative imports of primary steel products 2.009 million tonnes, down 11.9% year-on-year.
Short-term steel exports will remain at a high level
Since June, China's steel exports declined continuously, ‘volume increase and price decline’ situation has eased, but China suffered trade remedy cases in the original trial was a sustained growth trend. January - August, the original case has reached 15, of which Vietnam launched an anti-dumping investigation of China's hot rolled coil, the amount of money involved reached $ 4.84 billion. 4.84 billion U.S. dollars, since the beginning of this year for China's largest amount of cases at first instance, has caused a lot of attention. Trade friction is expected to escalate or steel exports form a certain inhibition, but in the domestic trade pressure, the internal and external price difference is at a high level in the background, short-term steel exports will remain high.