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The Netherlands and South Korea were the largest buyers of Chinese long steel

Market participants said that Chinese exporters were active in selling long steel abroad in late 2022, resulting in good export data in the first months of 2023.

The Netherlands and South Korea were the largest buyers of Chinese long steel

According to data released by China's General Administration of Customs on March 20, exports of hot-rolled steel bars and rebar amounted to 231,204 tons in the first two months of 2023, while exports of wire rod reached 838,052 tons.

The largest buyer of hot-rolled steel bars and rebar was the Netherlands, which took 26,376 tons (11%) of China's total exports.

South Korea remained the largest buyer of Chinese wire rod, taking 269,406 tons (32%) of China's total exports.

According to sources, weak domestic demand in late 2022 and January 2023 pushed long steel sellers to seek overseas orders.

The rebar export index calculation ex-China's main port hit a three-year low in late 2022 at $560.63 per ton on November 8.

Global prices were high at the time. For example, the price assessment for steel rebar exports ex Turkey's main port was $640-650 per ton on November 10.


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