China's steel exports fell 33.9% month-on-month

June 11, 2021

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1. Sufficient supply of steel products. According to estimates by the China Iron and Steel Association, in May, the country produced 98.08 million tons of crude steel, a year-on-year increase of 6.3%; pig iron was 77.27 million tons, a year-on-year decrease of 0.1%; steel products were 122.69 million tons, a year-on-year increase of 7.1%.

2. The price of steel rose and fell. According to data from the China Iron and Steel Association, in mid-May, China's steel composite price index rose to 174.81 points, a record high, and then quickly fell back. By the end of May, China's steel composite price index was 144.07 points, a 3.2% decrease from the end of April. The highest point dropped by 17.6%.

3. The growth rate of steel exports slowed down. According to data from the General Administration of Customs, China exported 5.27 million tons of steel products in May, a year-on-year increase of 19.8% and a month-on-month decrease of 33.9%. A total of 30.92 million tons of steel products were exported from January to May, a year-on-year increase of 23.7%. In May, China imported 1.21 million tons of steel, a year-on-year decrease of 5.8% and a month-on-month increase of 2.7%. From January to May, a total of 6.1 million tons of steel were imported, an increase of 11.6% year-on-year.

4. The price of imported iron ore rebounded from a high level. According to data from the China Iron and Steel Association, in mid-May, China imported iron ore price rose to US$230.6/ton, a record high, then fell to US$180.7/ton and rebounded again. By June 9, imported iron ore The price rebounded to US$210.3/ton and is still at a high level.

5. Steel inventory is at a normal level. According to statistics from the China Iron and Steel Association, in late May, the steel stocks of key steel companies were 13.41 million tons, an increase of 0.9% from the same period last year and a decrease of 0.1% from the end of April. The social inventory of five major types of steel in 20 cities was 10.98 million tons, down 16.3% from the same period last year, and down 14.7% from the end of April.

Author:

Mr. wofeng

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