STEEL NEWS

Chinese steel exports hit highest in 13 months

China's exports of steel products in May totaled 7.76 million tons, the highest since April 2021, according to Reuters.

Some Chinese merchants have increased exports to Europe to make up for the shortfall caused by the Russian-Ukrainian conflict.

“Demand for Chinese slabs, on which China imposes a 15 percent export duty, has been especially strong amid a supply vacuum from the Black Sea,” consultancy Rystad Energy said in a report this week.

Exports in the first five months of the year decreased by 16.2% to 25.92 million tons.

According to customs data, steel imports last month reached 806,000 tons, while total imports for January-May amounted to 4.98 million tons.