China’s steel exports expected to fall below 70mln tonnes in 2018

China exported 6.476 million tonnes of steel in April, down 0.2 percent year on year and 825,000 tonnes higher than the previous month. Analysts estimated that China’s steel exports in 2018 are likely to fall below 70 million tonnes.
BEIJING, May 8 (Xinhua) -- China exported 6.476 million tonnes of steel in April, down 0.2 percent year on year and 825,000 tonnes higher than the previous month. Analysts estimated that China’s steel exports in 2018 are likely to fall below 70 million tonnes.
According to the latest statistics released by the General Administration of Customs (GAC), in the first four months, China’s exports of steel fell 20.1 percent year on year to 21.624 million tonnes.
In April, China imported 1.045 million tonnes of steel, registering a year-on-year decrease of 3.2 percent. From January to April, China imported 4.496 million tones of steel in total, down 1.3 percent year on year.
Xu Xiangchun, information director of mysteel.com, noted that China’s steel exports rebounded sharply in April as compared with the previous month, confirming that the monthly exports of steel have bottomed out. The monthly exports are expected to remain at around 6 million tonnes in the future. Annual exports are likely to be less than 70 million tonnes.