SHANGHAI Chinas finished steel exports totaled 5.55 million tonnes in April, up 5.1 percent from 5.28 million tonnes in March, according to preliminary Chinese customs data.
"The lower export prices since mid-February led some buyers to make more bookings," a Shanghai-based trader told AMM sister publication Steel First.
Chinas export prices for commercial hot-rolled coil (4.5 to 12 millimeters) fell to $585 to $590 per tonne f.o.b. March 22 from $610 to $620 per tonne Feb. 22.
Exporters expect shipments to remain high in May based on their transaction records, with growth reported over the past two weeks, especially for shipments to South America.
A version of this article was first published by AMM sister publication Steel First.