China's finished steel exports rise, imports fall in November

Year-to-date (January-November), China's cumulative finished steel exports reached 82,658 million mt, up by 35.6% y/y.

In contrast, finished steel imports fell by 8.1% on month and by 18.4% on year to 614,000 mt in November. Total imports in the first eleven months of 2023 also fell by 29.2% y/y to 6.98 million mt.

These figures are an indication that China's finished steel exports are performing strongly while imports continue to decline, suggesting that Chinese steel production is meeting or even exceeding domestic demand, leading to increased exports.