China's Exports of Welded Steel Pipes Decline in May

Exports of welded steel pipes in the country declined during May 2014 compared to May last year, according to data released by the Chinese customs authorities. Nevertheless, in comparison with the previous month, the demand for steel pipe on the world market was at a high level, so exports remained at the same level during the month.

Meanwhile, the Chinese output of welded steel pipes was 4,930,000 tons during the month of May 2014. At the same time, the monthly output of steel pipes increased by 12 percent compared with the output in the same month a year earlier. In addition, the daily production of welded steel pipes during May 2014 averaged 159,039 tons, which is quite high compared to last year.

Exports of welded steel pipes in China during May this year amounted to 342,114 tons. On an annualized basis, exports fell 12 percent from last year's 388,766 tonnes in May 2013, as demand emerged in the country's domestic market.

In total, exports in the past first five months of this year amounted to 1,490,000 tons, down nearly 8 percent from the corresponding five months of last year. The export volume for the period from January to May in 2013 amounted to 1,620,000 tons. Canada was the largest importer of Chinese welded steel pipe in five months. Imports across Canada totaled 641,000 tons, accounting for 43 percent of China's total exports.