steel exports fell again in October on fewer bookings after a
quick and strong price rebound in September.
Exports totaled 4.84 million
tonnes, down 6 percent from 5.15 million tonnes in September,
according to preliminary Chinese customs data.
"Chinese steel products became
less attractive after the strong price rise in September, which
led to lower export volumes in October," one trader in Shanghai
told AMM sister publication Steel First.
Export prices for
commercial-grade, boron-containing hot-rolled coil are at $540
to $545 per tonne f.o.b., up from $530 to $540 per tonne f.o.b.
a month ago.
But South Korean and Japanese
exporters are shipping their thinner-gauge and higher-grade
materials at similar price levels, the trader said.
commercial-grade hot-rolled coil prices are at 3,970 to 4,000
yuan ($631 to $636) per tonne, up 50 to 60 yuan ($8 to $10) per
tonne from last Friday and above the 3,720- to
3,750-yuan-per-tonne level seen a month ago.
The countrys steel exports
for the first 10 months of 2012 totaled 45.78 million tonnes,
up 11.8 percent from the corresponding 2011 period.
Octobers exports also
topped the monthly average of 4.58 million tonnes for the first
Exporters expect shipments to
remain at a similar level or decline slightly in November,
based on bookings received thus far.
A version of this article was first
published by AMM sister publication Steel