SMM, December 25:
According to the latest customs data, in the galvanized sheet sector, China's galvanized sheet exports in November 2024 reached 1.0462 million mt, down 10.1% MoM but up 14.9% YoY compared to 910,400 mt in November 2023. From January to November 2024, cumulative galvanized sheet exports totaled 11.7161 million mt, an increase of 16.10% YoY from 10.0918 million mt in 2023. Overall, galvanized sheet exports in November showed a pullback on a MoM basis.
By country, the Philippines imported 95,200 mt of Chinese galvanized sheets in November, accounting for 9.10% of total exports, rising to the top position. South Korea imported 67,100 mt, accounting for 6.41%, dropping to second place. Thailand imported 66,800 mt, accounting for 6.39%, ranking third. The rankings of the top three countries for galvanized sheet exports in November changed significantly, with South Korea experiencing a substantial decrease, while the Philippines and Thailand also saw slight declines. Below is a chart showing the country-specific breakdown of China's galvanized sheet exports in November.
As the year-end approaches, overseas demand for galvanized sheets has pulled back, with imports from South Korea, the Philippines, Thailand, Israel, and other countries all declining in November, leading to a noticeable reduction in China's galvanized sheet exports. However, looking at the overall data for this year, demand in Southeast Asia remains robust. The Philippines saw a YoY increase of 29.8%, while Vietnam, Brazil, and Indonesia also recorded higher imports. Amid weak domestic trade demand, strong galvanized sheet exports in 2024 have supported orders for domestic galvanized sheet enterprises. Looking ahead to next year, with the increase in trade barriers such as raised tariffs, the global trade environment may face disruptions. Coupled with the implementation of a series of anti-dumping investigations on Chinese galvanized sheets, whether China's strong export performance in galvanized sheets can be sustained remains uncertain.
》View the SMM Metal Industry Chain Database
