Under the Tariff Storm, the US Announces Strict Inspection of Transit Trade. How Will Galvanized Sheet Exports Be Expected in April? [SMM Analysis]

SMM April 21 News: According to the latest customs data, in terms of galvanized sheet, exports in March 2025 reached 1.2902 million mt, with cumulative exports from January to March 2025 totaling 3.3874 million mt, a 14.28% increase YoY compared to 2.964 million mt in 2024. Overall, domestic galvanized sheet exports in March showed robust performance. By country, Thailand imported 134,300 mt of Chinese galvanized sheet in March, accounting for 10.41% of exports, rising to the top position. The Philippines imported 116,500 mt, accounting for 9.03%, dropping to second place. South Korea imported 109,500 mt, accounting for 8.49%, falling to third. In March, imports of Chinese galvanized sheet from countries such as Thailand, the Philippines, South Korea, Israel, Vietnam, Brazil, Pakistan, and Saudi Arabia saw significant increases, while imports from Iraq, Indonesia, and Chile experienced varying degrees of decline. SMM believes the reasons for the MoM increase in galvanized sheet exports in March are as follows: Some Southeast Asian companies, fearing future tariff hikes, placed advance orders for galvanized sheet domestically, leading to a "rush to export" phenomenon. Domestic galvanized sheet factories fully resumed operations in March, and orders received before the new year continued to be processed. Domestic ferrous metals prices remained weak in March, leaving some profit margin for galvanized sheet exports. Entering April, first, the US-China tariff dispute continues to escalate, making direct exports to the US virtually impossible under the current tariff levels. Additionally, some Chinese galvanized sheet exports are re-exported to the US. In April, the US also announced varying tariffs on other countries such as Vietnam, South Korea, the Philippines, and Thailand. Although the US has implemented a 90-day exemption period for these countries, on April 15, US customs announced stricter scrutiny of re-export trade. Coupled with ongoing anti-dumping investigations by Southeast Asian countries against China, market concerns about Chinese galvanized sheet export orders in Q2 are high. SMM will continue to monitor the performance of galvanized sheet exports. View the SMM Metal Industry Chain Database.