According to the Chinese customs authorities, in September of this year, exports of semi-finished products from China amounted to 1.4936 million tons, which is 15.34 percent less month-on-month, and an increase of 41.85 percent year-on-year.
Prices for ex-Chinese bullion fluctuated at a fairly high level near $450/mt FOB from July 21 to August 15, when a number of contracts for September shipment were concluded. In addition, the gap in export prices between Chinese and Black Sea billets has narrowed, which has contributed to a decrease in the competitiveness of Chinese exports of billets. In October and early November, exports of semi-finished products from China will also be slightly reduced, especially compared to the results seen in the first half of the year, but the monthly volume will still be much higher than 1 million tons. Shipments are likely to increase again in December, given the recent drop in prices and a smaller-than-expected improvement in local demand.
In January-September of this year, exports of semi-finished products from China amounted to 10.7297 million tons, an increase of 215.43 percent year-on-year.
In January-September of this year, imports of semi-finished products from China amounted to 606,300 tons, which is 62.17 percent less than last year.
