China's steel exports fell 17% in May

During May 2019, steel exports from the country fell by 16.6% at an annual level to 5.743 million tons and decreased by 9.2% in a month. In January-May, steel exports from China amounted to 29.093 million tons, which is 2.5% more than in the previous year.

Market experts attribute the decline to a decrease in demand abroad, as well as to the still uncompetitive prices for Chinese steel at the international level. They stated: “Demand in South Korea and Vietnam is weak these days. In addition, prices for Chinese products in world markets have become uncompetitive, especially when compared to steel products of Indian origin, which are relatively cheaper than in other regions. "

Meanwhile, China's steel imports in May totaled 0.982 million tons, up 13.4% year-over-year and 1.8% over the previous month. In January-May, imports decreased by 13.4% at an annual level to 4.878 million tons.