Chinas finished steel exports totaled 5.41 million tonnes
in May, down 2.5 percent month on month from 5.55 million
tonnes, according to preliminary Chinese customs data.
However, the total is
up 2.5 percent from 5.28 million tonnes in March. Shipments in
January and February reached 4.92 million tonnes and 4.24
million tonnes, respectively.
decrease in export prices since mid-March discouraged overseas
buyers from making purchases," a trader in Shanghai told
AMM sister publication Steel First.
Bookings have also
been declining since mid-March, leading to a small
month-on-month decrease in export volumes in May. Export
bookings for May shipment were made between mid-March and
However, booking in
May were up 3.4 percent from the same month last year and
exceeded the 5.08-million-tonne average for the first five
months of this year.
prices for commercial-grade hot-rolled coil, 4.5 to 12
millimeters, fell to $550 to $560 per tonne f.o.b. April 12
from $600 per tonne f.o.b. March 15.
For the first five
months of the year, exports totaled 25.4 million tonnes, up
15.4 percent from the same 2012 period.
shipments in June to dip further based on their transaction
Buyers are also afraid of larger price drops, the trader
A version of this
article was first published in AMM sister publication Steel