Sino-US tariff conflict has eased. Can the export level of galvanized sheet in May be maintained? [SMM Analysis]

SMM May 20 News:
       According to the latest customs data, in terms of galvanized sheet, exports of galvanized sheet in April 2025 reached 1.2901 million mt, with cumulative exports from January to April 2025 totaling 4.6775 million mt, representing a 14.84% YoY increase compared to 4.0732 million mt in the same period of 2025. Overall, the export performance of domestic galvanized sheet remained robust in April.

       By country, the Philippines imported 160,400 mt of galvanized sheet from China in April, accounting for 12.43% of galvanized sheet exports, rising to the first position; South Korea imported 106,800 mt of galvanized sheet from China in April, accounting for 8.28% of galvanized sheet exports, rising to the second position; Thailand imported 101,100 mt of galvanized sheet from China in April, accounting for 7.84% of galvanized sheet exports, falling to the third position. In April, countries such as the Philippines, Vietnam, Indonesia, Spain, Italy, and Belgium saw significant increases in their imports of galvanized sheet from China, while countries such as Thailand, Pakistan, Saudi Arabia, Brazil, and Iraq experienced varying degrees of decline in their imports of galvanized sheet from China.

       SMM believes that the export volume of galvanized sheet in April will maintain the level of March for the following reasons:

• Concerns about subsequent tariff conflicts in the market led to the continuation of the "rush exports" phenomenon in China in April, with related export orders remaining robust;
• Since April, China has begun to strictly investigate and crack down on export fraud. Market rumors suggest that specific measures may be unveiled in May. Some sheet mills, concerned about being affected, rushed to meet deadlines and ship goods in April, driving up galvanized sheet exports.

       Entering May, the Sino-US tariff conflict eased somewhat in mid-month, with a 90-day suspension period reappearing. Some domestic enterprises continued to rush to fulfill previous export orders, but growth in new orders was limited. It is expected that the export volume of galvanized sheet in May may show sluggish growth compared to April.

》View SMM Metal Industry Chain Database