According to the Chinese customs authorities, exports of steel sheets/plates in China amounted to 9.33 million tons in January-February of this year, which is 14.5 percent less compared to the same period last year.
The export of steel sheets/plates in China was more directly affected by the introduction of export licenses in China on January 1, which significantly reduced shipments of VAT-free HRC from China. So far, sales of HRC excluding VAT have been close to zero. However, one trader commented: "I think there are signs that non-VAT offers have been coming back since the end of March and April."
In addition, CBAM restrictions in Europe and anti-dumping duties worldwide, especially in the Asian region, led to a greater decline in HRC exports during the first two months of this year.
