China steel exports surged to 10.140mn mt in the Jan-Feb period, up by 29.9pc from the prior year period while imports rose by 17.4pc to 2.395mn mt, according to Chinese customs data. Increased global demand and competitive pricing supported Chinese exports as economies recover from the impact of the COVID-19 pandemic.
China’s cumulative steel exports and import rose in the Jan-February period from a lower base in 2020 amid disruptions caused by the pandemic. The average export price for steel in the period was $872.4/mt, while the import price was $1095.6/mt.
| China’s steel trade in Jan-Feb | |||
|---|---|---|---|
| Unit: mn mt | Jan-Feb 2021 | Jan-Feb 2020 | Change YoY |
| Imports | 2.395 | 2.04 | 17.4% |
| Exports | 10.14 | 7.806 | 29.9% |
| Iron ore and concentrate | |||
| Imports | 181.506 | 176.595 | 2.80% |
In the Jan-Feb period, China imported 181.506mn mt iron ore and concentrates, which is more than 2.8pc in the prior year period. The average import price for iron ore was $144.48/mt, which is up $52.2/mt from the prior year.
Exports of unwrought aluminium and aluminium products rose to 842,000mt in the two-month period, up 25.9pc from a year ago.
While unwrought copper and copper materials imports rose to 884,000mt, up by 4.7pc from the prior period. The average import price of unwrought copper was CNY52,700/mt, up by 19pc from a year ago.
In the first two months of 2021, China’s total exports rose to $468.87bn, up by 60.6pc from the prior year period, while imports increased to $365.62bn, up by 22.2pc. The country achieved a trade surplus of $103.25bn compared to a deficit of $7.21bn in 2020.