Chinese CRC export volume up 46% in June

China recorded another yearly surge in its cold rolled coil exports in June as mills’ rising output forced them to tap overseas markets.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

It shipped 346,644 tonnes during the month, a 46.1% year-on-year increase, according to data released by the Chinese customs late on Monday July 21.

However, the volume is 20.4% lower compared with the 435,357 tonnes exported in May, given that June is typically a slow season for the steel market.

The USA overtook South Korea as the top importer of Chinese CRC in June. It imported 54,064 tonnes of the product, just over three times as much as the 17,323 tonnes it took in a year earlier.

China exported a total of 2.168 million tonnes of CRC in the first half of 2014, up 39.4% on the year.

The USA accounted for 329,791 tonnes, which forms the largest share of 15.2%. The figure is also about two-and-a-half times the Chinese CRC shipments that the USA took in over the first six months of last year.

The surge in Chinese CRC shipments into the USA has led to growing concerns about a potential anti-dumping investigation against the product.

Chinese exporters are also wary of any possible trade action, as the USA is a major export destination for CRC. Although business has not been affected so far, market participants told Steel First that they would monitor developments in the USA closely.

What to read next
Any bolstering effect on US ferrous scrap exports from the up-month in February’s domestic trade will be tempered in the immediate aftermath of two earthquakes in Turkey — the country’s largest importing region — on Monday, February 6
Steel trading and production have come to a halt in the eastern Turkish region of Iskenderun following a devastating earthquake that hit the region on Monday February 6 and put mills in the area under force majeure, sources told Fastmarkets on Tuesday
A 120-day closure of four Illinois dams scheduled for 2023 will disrupt barge shipments and have potentially both negative and positive impacts on scrap and finished steel products from Canada to Texas
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed