SMM Analysis:Impact of the Ban on Forging or Purchasing Customs Clearance Documents from Other Import and Export Firms on September Galvanized Sheet Exports

SMM September 23 News:

According to the latest customs data, galvanized sheet exports in August 2025 reached 1.0975 million mt, with cumulative exports from January to August totaling 9.2182 million mt, up 10.96% YoY from 8.3074 million mt in the same period of 2024. Overall, domestic galvanized sheet exports in August saw a slight decline from July, aligning with prior market expectations.

By country, the Philippines remained the top importer of Chinese galvanized sheets in August with 137,800 mt (12.6%), South Korea rose to second with 104,300 mt (9.5%), and Thailand fell to third with 73,200 mt (6.7%). In terms of variables, imports from countries such as Thailand, Iraq, Brazil, and Djibouti saw significant declines, while imports from the UAE, Guatemala, Indonesia, and South Korea increased to varying degrees. With these mixed movements, overall galvanized sheet exports in August weakened compared to July.

SMM believes the MoM decline in August galvanized sheet exports was due to the following reasons:

1. In July, Vietnam’s Ministry of Industry and Trade officially announced anti-dumping duties of up to 27.83% on certain hot-rolled coil products originating from China, which led to a decline in export orders for some galvanized sheet manufacturers.

2. Boosted by the "anti-involution" policy, domestic ferrous metals prices rose sharply in July, driving up the price of Chinese galvanized sheet products. This significantly reduced the price advantage of export orders, leading to fewer orders taken by export enterprises and affecting August export volumes.

Looking ahead to September, although the State Taxation Administration’s Announcement No. 17 will take effect on October 1, precisely targeting the practice of forging or purchasing customs clearance documents from other import and export firms, some affected enterprises accelerated shipping in August and September to facilitate exports. However, reduced export orders from domestic enterprises due to high ferrous metals prices in July and August may continue to impact September galvanized sheet export shipments. Overall, September exports are unlikely to show significant growth compared to August.

(The above information is based on market collection and comprehensive evaluation by the SMM research team. The information provided in this article is for reference only. This article does not constitute direct advice for investment research and decision-making. Customers should make cautious decisions and should not replace their independent judgment with this information. Any decisions made by customers are not related to SMM.)