Chinese steel product exports surged 38% in Jan, steel outlook stable: CISA

According to latest statistics released by the China Iron & Steel Association (CISA), the country’s exports of steel products surged 37.6% year-on-year in January

BEIJING (Scrap Monster): According to latest statistics released by the China Iron & Steel Association (CISA), the country’s exports of steel products surged 37.6% year-on-year in January. The exports totaled 6.77 million tons as against the exports of 5.37 million tons during the same month a year ago.

The export price of steel products averaged $828.32 per ton, declining nearly 3% when compared with the average export price of $851.82 during December 2013.

According to CISA data, the country’s steel products import totaled 1.35 million tons, going higher by 11.57% when compared with the imports of 1.21 million tons during the previous month.

The Association further stated that the domestic steel market is expected to stabilize during 2014. The steel demand from many sectors including construction, auto, home appliances, machinery, and shipbuilding is expected to rise during the year.

The steel demand from construction sector is predicted to rise by 5% from a year ago to 443 million tons and that from machinery manufacturing is expected to increase by 4% to 127 million tons in 2014.

Meanwhile, the steel demand from shipbuilding sector will increase by 7% to 17.9 million tons and that from the domestic electrical home appliance manufacturing will rise by 4% to 12.4 million tons.

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