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As reported by Reuters, China's steel product exports in April rose 26% to 7.973 million tons compared to last year, while China's steel imports rose 16% to 1.17 million tons. Steel exports also rose 5.71% month-on-month.
At the end of April, Beijing announced that it would remove tax breaks for most of its exported steel and release temporary import duties on certain primary steel products, such as pig iron, raw steel and scrap steel, to support domestic supplies of ferrous metals.
The country shipped 25.65 million tons of steel and bought 4.89 million tons of steel from other countries between January and April, according to customs data.
