Galvanized Sheet Exports Remained Robust in January-February 2025, Can This Momentum Be Sustained? [SMM Analysis]

SMM March 21 News:

According to the latest customs data, for galvanized sheets, exports in January 2025 were 1.1058 million mt, and in February 2025, they were 991,400 mt. The cumulative exports for January-February 2025 reached 2.0973 million mt, up 18.92% YoY from 1.7636 million mt in 2024. Overall, galvanized sheet exports remained strong at the beginning of 2025.

By country, the Philippines imported 101,100 mt of Chinese galvanized sheets in February, accounting for 10.20% of exports, rising to first place; South Korea imported 88,400 mt, accounting for 8.92%, moving to second place; Thailand imported 87,700 mt, accounting for 8.85%, ranking third. In February, imports of Chinese galvanized sheets by Vietnam, Iraq, Israel, and Peru saw a significant increase, while those by the Philippines, Thailand, and Nigeria declined to varying degrees.

Entering 2025, galvanized sheet exports in January-February continued to show strength. According to SMM, demand in Southeast Asia remains robust, continuously boosting China's galvanized sheet export performance. Additionally, ferrous metal prices have continued to decline slightly since the beginning of the year, maintaining a price advantage for Chinese galvanized sheets. Although exports pulled back in February due to the Chinese New Year break, with galvanizing plants gradually resuming production, galvanized sheet exports are expected to recover MoM in March.