According to the PRC General Administration of Customs, in November 2022, Chinese steel companies exported 5.59 million tons of steel products. This figure was recorded as 7.8% higher than the previous month and 28.2% higher than November 2021.
Chinese steel exports are recovering for the second month in a row after a deep decline in June-September. Eleven-month foreign delivery volume reached 61.95 million tons, up 0.4% compared to the same period of the previous year. In previous data, an increasing volume of exports throughout 2022 has consistently lagged behind last year's level.
At the same time, imports of finished steel products to China in November amounted to only 752 thousand tons. That is 2.6% lower than last October and 47.2% lower than November 2021. This figure has been recorded as a record decline since at least the beginning of 2022.
In the January-November period, Chinese companies imported 9.87 million tons of steel products from abroad, excluding semi-finished products. This figure is 25.6% less than the same period of the previous year.
Contrary to the forecasts of shipping companies Kpler and Refinitiv, China's iron ore imports remained below 100Mt in November. The volume was 98.85Mt, up 4.1% from October, according to the General Administration of Customs.
Overall, China's iron ore and concentrate import volume in the eleven-month period amounted to 1.017 billion tons. This figure was seen as 2.1% less than January-November 2021.
Comments
No comment yet.