[SMM Steel Shipping] YoY Growth in Port Departures From 32 Chinese Ports Exceeded 50% in December, Up 23% YoY for the Full Year

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According to the latest SMM steel shipping data, in December, the total steel export volume from 32 domestic portswas 11.4393 million mt, up 1.90% MoM and 51% YoY.

Specifically, Tianjin Xingang exported 3.3531 million mt, up 20.15% MoM; Caofeidian Port exported 823,800 mt, up 23.18% MoM; Jingtang Port exported 615,700 mt, up 11.90% MoM; Luojing Port exported 1.2105 million mt, up 10.20% MoM.

For the full year, in2024, China's steel port departure levels further surged. Fromthe main ports, Tianjin Xingang, Bayuquan, Lianyungang, Kaohsiung in Taiwan, Caofeidian, and Shanghaiall achieved significant growth in annual cumulative port departures, whileLuojing Port and Jingtang Portsaw a slight pullback in annual cumulative port departures.

Specifically, in 2024, the total port departures from China's 32 ports reached 122.5373 million mt, up 23.44% YoY. Among them, Tianjin Xingang exported 31.9019 million mt, up 27.07% YoY; Caofeidian Port exported 6.1438 million mt, up 111.5% YoY; Jingtang Port exported 10.2058 million mt, down 0.78% YoY; Bayuquan exported 9.949 million mt, up 40.8% YoY; Luojing Port exported 13.6105 million mt, down 12.7% YoY.

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