Steel Products Prices North America
December 8, 2015
China's Steel Exports Not Expected to Abate Anytime Soon
Written by Sandy Williams
Chinese exported 101.7 million metric tons, or 112 million short tons, of steel in the first 11 months of 2015, according to customs data reported by Bloomberg. Exports increased by 22 percent year over year, almost as much as the total annual capacity of U.S. steel mills of 120 million tons. As China’s economic slowdown has weakened domestic steel demand, producers have turned to exports to make up shortfalls in profit.
The preliminary October steel import data from AISI and the U.S. Census Bureau shows finished steel imports from China to the U.S. at 68 thousand net tons, down 52.8 percent from the previous month’s total of 144 thousand tons and 19.8 percent less year-to-date compared 2014. The three month rolling average for Chinese steel imports was 123 thousand tons, down 52.6 percent from the average in the three months prior.
