Economy
Chinese Steel Exports Soar 94 Percent Year over Year
Written by Brett Linton
December 9, 2014
Based on preliminary Chinese data, total steel exports from China were 9.7 million metric tons (10.7 million net tons) for the month of November, a 14 percent increase from the previous month and a 94 percent increase from November 2013 tonnage. This brings total 2014 exports to 83.6 million tons (92.2 million net tons).
To put this into perspective for our North American readers, if China were to export 10 million net tons per month they would exceed annual U.S. total steel production by 10-15 million net tons.
Total steel imports to China in November were 1.1 million tons (1.3 million net tons), up 4 percent from October and down 10 percent from the same month one year ago. Total 2014 steel imports now stand at 13.2 million tons (14.6 million net tons).
Iron ore imports in November were 67.4 million tons (74.3 million net tons), down 15 percent from October and down 13 percent from one year prior. Total 2014 tonnage is 845.8 million tons (932.3 million net tons) through November. (Source: Bradford Research, Inc.)
Brett Linton
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