According to data from the General Administration of Customs, China witnessed a 0.7pct decline in its steel product exports in June compared to the previous year, totaling 7.51 mln tons.
This decrease marked the end of a consecutive five-month growth streak and was also lower than the 8.36 mln tons shipped abroad in May, which was the highest since September 2016.
However, China’s steel product exports for the first half of the year showcased a strong performance. The country exported a total of 43.58 mln tons, reflecting a notable 31.3pct YoY increase and strongest performance for the January-June period since 2016, as per the data.
On the import front, China received 612,000 tons of steel products last month, a decline from the 790,000 tons imported in June 2022. The cumulative imports for the January-June period reached 3.74 mln tons, marking a significant 35.2pct decrease compared to the previous year.
