In January-August of this year, exports of finished steel from China totaled 77.49 million tons, which is 10.0% more than last year, according to the latest data released by the General Administration of Customs of China (GACC).
In August, exports of finished steel from China totaled 9.51 million tons, which is 3.3% less month-on-month and 0.1% more year-on-year.
In August, China's finished steel imports totaled 500,000 tons, an increase of 10.6 percent month-on-month, while it decreased by 1.96 percent year-on-year. In the first eight months of this year, imports of finished steel to China amounted to 3.977 million tons, which is 14.1% less than last year.
Market participants said that exports of finished steel from China will remain at a high level amid expectations of stricter controls on trade-related tax evasion from October 1, leading to an increase in export activity through October.
However, the volume of exports of finished steel is likely to decrease significantly in October, especially compared to the volume of 11.18 million tons recorded in October 2024.
