In the first 11 months of 2021, China exported a total of 61.875 million tons of steel

In the first 11 months of 2021, China exported a total of 61.875 million tons of steel

According to customs data, in the first 11 months of 2021, my country exported a total of 61.875 million tons of steel, a year-on-year increase of 26.7%. During the same period, the cumulative imported steel was 13.267 million tons, down 29.6% year-on-year; the cumulative imported steel billet was 12.549 million tons, down 28.2% year-on-year. In November 2021, the average unit price of my country’s steel imports was US$1,402.0/ton, down 3.85% month-on-month and up 60.7% year-on-year; the average unit price of exports was US$1,729.5/ton, up 13.2% month-on-month and 87.0% year-on-year. The average price of steel imports and exports has been upside down for 4 consecutive months, and the price difference widened again to -327.5 US dollars / ton in November.

  1. The overall situation of steel import and export

According to customs data, in the first 11 months of 2021, my country exported a total of 61.875 million tons of steel, a year-on-year increase of 26.7%. During the same period, the cumulative imported steel was 13.267 million tons, down 29.6% year-on-year; the cumulative imported steel billet was 12.549 million tons, down 28.2% year-on-year. In the first 11 months of 2021, my country’s crude steel net export was 37.914 million tons, and the net export volume far exceeded that of 2020, down 6.5% from the same period in 2019.

In November 2021, the average unit price of my country’s steel imports was US$1,402.0/ton, down 3.85% month-on-month and up 60.7% year-on-year; the average unit price of exports was US$1,729.5/ton, up 13.2% month-on-month and 87.0% year-on-year. The average price of steel imports and exports has been upside down for 4 consecutive months, and the price difference widened again to -327.5 US dollars / ton in November.

  1. Export of steel products

In November, China exported 4.361 million tons of steel, a month-on-month decrease of 136,000 tons, or 3.0%, a month-on-month decline for 5 consecutive months; a year-on-year decrease of 41,000 tons, a decrease of 0.9%, the first negative growth year-on-year. Details are as follows:

  1. The quantity of most export varieties decreased and the price increased. In November, my country exported 2.862 million tons of flat products, a decrease of 7.0% from the previous month, and the decline exceeded the overall situation of steel exports. Except for plates and pipes, which increased by 2.3% and 27.0% respectively year-on-year, other categories showed a decline in varying degrees.

From the perspective of subdivided varieties, most export varieties have decreased in volume and price compared with the previous month, and increased in both volume and price year-on-year. Among them, the export volume of plated sheets in November decreased by 80,000 tons to 1.131 million tons, accounting for 25.9% of the total export volume; the export volume of hot-rolled coils decreased by 13.8% month-on-month to 316,000 tons, and the export volume of cold-rolled coils remained at 316,000 tons. 545,000 tons.

In terms of price, the average export price of cold-rolled products ranks first. In November, the average export price of cold-rolled narrow steel strip was US$4,234.8/ton, an increase of 8.3% month-on-month, ending the fourth consecutive month-on-month decline.

  1. South Korea’s export volume has dropped for five consecutive years, and the export volume of Mexico and the United States has increased by nearly 50% month-on-month. By region, my country exported 994,000 tons of steel to ASEAN in November, an increase of 2.7% month-on-month, ending the fourth consecutive month-on-month decline, accounting for 22.8% of the month’s total exports; 288,000 tons of steel products were exported to the 28 EU countries, a month-on-month decrease of 14.4%. By country, among the top ten destinations in November, 6 were from Asia, 2 were from South America, and 2 were from North America. Among them, South Korea’s export volume declined for 5 consecutive months, falling to the lowest level of 263,000 tons during the year; Mexico and the United States entered the top ten export destinations for the first time this year, with a significant increase of 47.6% and 45.8% month-on-month respectively, but the number was not large, accounting for about 3% of the total.
  2. The international steel price fluctuates violently, and Chinese resources are still in a price depression. Since mid-October, affected by the weak domestic demand in China and the fall in coal prices, domestic trade prices have fallen sharply, and export prices of various types of steel have fallen to varying degrees. The price advantage of China’s export resources is prominent. Overseas customers have a strong intention to purchase Chinese resources, and due to the impact of low-priced resources in China, international resources such as the Commonwealth of Independent States, Vietnam, India and other places have successively cut their quotations. Taking hot-rolled coil as an example, the international hot-rolled coil market sentiment was pessimistic in November, with Chinese resources leading the decline, and export quotations fell 11.9% from the end of October to the lowest level in the world; the mainstream transaction prices in the CIS and Southeast Asia were month-on-month respectively. fell 4.7% and 8.1%.

The price difference between domestic and foreign hot-rolled coils expanded to a peak in mid-November, and then narrowed as China’s domestic trade prices stopped falling and international steel prices compensated for the decline. In the context of continued sluggish domestic trade, domestic traders are more willing to export, and most manufacturers remain concerned about factors such as the severe epidemic situation at home and abroad, the weakening trend of overseas steel demand, and the uncertainty of domestic export policies, so as to actively optimize export products. The structure is mainly based, and the growth of export orders is relatively limited.