China’s steel exports surged 40.8pct YoY in October, reaching 11.18 mln tons, according to data from the General Administration of Customs. Exports were also up over 10pct compared to the previous month.
For the first ten months of 2024, steel exports rose 23.3pct YoY to 91.9 mln tons, putting them on track to reach 100 mln tons for the first time since 2016.
China’s steel imports dropped to 536,000 tons in October, down 19.8pct YoY and 3.25pct from September. Total steel imports from January to October amounted to 5.72 mln tons, a 10pct decrease from last year.
China’s iron ore imports saw a 4.5pct YoY increase in October, reaching 103.84 mln tons. For January to October 2024, iron ore imports rose nearly 5pct YoY, totaling 1 bln tons.
