Poor Overseas Demand And Lack Of Competitiveness To Hurt Chinese Hot-Rolled Steel Coil Exports

SHANGHAI, Jun 13 (SMM) – Export orders were weak recently. The export volume of 39 mainstream hot-rolled coil steel mills surveyed by SMM is estimated at 596,000 mt in June, a decrease of 41,000 mt or 6.44% compared with the actual exports in May. Many steel mills said HRC exports were weak in April and May due to poor overseas demand and lack of competitiveness of Chinese HRC compared with those in South-east Asia.

The slump of steel prices since mid April caused export profits to shrink and lowered willingness to export, which would be reflected in falling exports in May and June.