China exported 7.93 million tonnes of steel in April 2023, customs data showed, up 2.96 million tonnes on the year and the fourth consecutive monthly increase, taking exports to their highest level since May 2021. Shipments over January to April reached 28.01 million tonnes, up 55.0 percent year on year. The export boom reflected weak demand at home, where the property downturn kept a lid on construction steel use, and falling prices: the average export unit price was $1,097.5 a tonne, down 23.3 percent on the year. Sheet products made up two-thirds of April's exports, while billet exports also jumped as overseas buyers took advantage of cheaper Chinese steel. With domestic mills under pressure, exports became the release valve for the world's largest steel industry.
Source: China Metallurgical News — https://www.hmeonlineglobal.com/Home-Lights-Construction/14267.html
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