In October this year, China’s finished steel exports amounted to 11.182 million mt, up 10.1 percent month on month and rising by 40.8 percent year on year, according to the latest data released by China's General Administration of Customs (GACC).
The appreciation of the Chinese currency and increasing trade frictions may exert a negative impact on China’s steel exports during the remainder of the current year.
In the January-October period this year, China’s finished steel exports rose by 23.3 percent year on year to 91.893 million mt. The pace of the increase was 2.1 percentage points faster compared to that recorded in the first nine months of the year, which was 21.2 percent.
China’s finished steel imports totaled 536,000 mt in October, down 3.2 percent month on month and declining by 20.0 percent year on year. In the first ten months of the current year, China imported 5.721 million mt of finished steel, declining by 10.1 percent year on year.