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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