China's Galvanized Sheet Exports Hit a New High in 2024: What Is the Outlook for the Market? [SMM Analysis]

Published: Jan 21, 2025 17:32

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[SMM Analysis: China's Galvanized Sheet Exports Hit a New High in 2024, Future Outlook?] According to the latest customs data, galvanized sheet exports in December 2024 reached 1.0303 million mt, down 1.52% MoM but up 33.58% YoY from 771,300 mt in December 2023. From January to December 2024, cumulative galvanized sheet exports totaled 12.7464 million mt, an increase of 17.34% YoY from 10.8531 million mt in 2023...

SMM, January 21:

According to the latest customs data, in December 2024, China's galvanized sheet exports reached 1.0303 million mt, down 1.52% MoM but up 33.58% YoY from 771,300 mt in December 2023. From January to December 2024, cumulative galvanized sheet exports totaled 12.7464 million mt, an increase of 17.34% YoY from 10.8531 million mt in 2023. Overall, December's galvanized sheet export performance remained at November's level, with China's galvanized sheet exports hitting a new record high in 2024.

By country, South Korea imported 111,100 mt of Chinese galvanized sheets in December, accounting for 10.78% of total exports, ranking first. The Philippines imported 105,600 mt, accounting for 10.25%, ranking second. Thailand imported 92,200 mt, accounting for 8.95%, ranking third. In December, imports of Chinese galvanized sheets by countries such as South Korea, the Philippines, Thailand, and Iraq showed significant increases, while imports by Vietnam, India, Saudi Arabia, and others experienced varying degrees of decline.

In 2024, China's galvanized sheet exports performed strongly overall. Firstly, robust demand for galvanized sheet exports from Southeast Asia in 2024 boosted China's export levels. Additionally, the relatively low ferrous metals prices in China this year provided a price advantage, further supporting export performance. Looking ahead to 2025, an unstable foreign trade environment may pose certain challenges to China's galvanized sheet exports. Continued attention is needed on the subsequent performance of China's galvanized sheet exports.

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