中文
China's steel products imports posted a downward trajectory in November while exports rebounded compared to the previous month.
The country imported 614,000 tonnes of steel products in November 2023, down 54,000 tonnes or 8.08% from October and 138,000 tonnes or 18.35% from a year earlier.
The average import price of steel products was estimated at $1,628.2/t, up 7.3% month on month yet down 6.4% year on year.
China imported 6.98 million tonnes of steel products during January-November this year, a year-on-year fall of 29.2%. The average import price was calculated at $1,667.1/t, up 3.5% year on year, data showed.
By type, China imported 511,000 tonnes of plates, down 10.6% on the month, taking up 83.2% of the total imports volume, according to a report released by the China Iron and Steel Association.
In November, steel products imports from Japan and South Korea reduced 8.2% and 17.6% from a month ago, respectively, while that of Indonesia rose 8.9% on the month.
Imports of primary steel products (including steel billet, molten iron, DRI, and scarp steel) stood at 370,000 tonnes in November, down 38.9% from a month ago.
China exported 8.01 million tonnes of steel products in November, rising 66,000 tonnes or 0.8% month on month and 2.42 million tonnes or 43.2% year on year, data showed.
The average export price calculated at $810.9/t, rising 2.4% month on month yet falling 38.4% year on year.
Total steel products exports reached 82.66 million tonnes over the first eleven months this year, up 35.6% compared to the same period last year. The average export price was calculated at $947.4/t, down 32.2% year on year, data showed.
Plates exports were 5.46 million tonnes in November, down 0.1% month on month, accounting for 68.2% of the total steel products exports.
China exported 2.45 million tonnes of steel products to ASEAN countries, increasing 2.2% on the month, accounting for 30.6% of the total. While exports to India fell 38.3% from October, back to normal levels from the record high last month.
Exports of primary steel products stood at 282,000 tonnes in November, of which steel billet increased 2.4% from October to 275,000 tonnes.
The overall increase in steel products exports in China was partly ascribed to high price competitiveness. The export prices in November rebounded amid rally in global steel prices and strengthening of RMB against U.S. dollar, yet remained at a comparatively low level among major exporters, according to the CISA report.
In addition, China adjusted tariff sub-items of five steel products on December 28 last year, laying a solid foundation for import and export of steel products in 2024.
It is expected that China's steel exports in 2023 will exceed 90 million tonnes, only lower than the export scale during 2014-2016, while import volume is forecast at approximately 7.60 million tonnes.
(Writing by yan.sun Editing by Emma Yang)
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