Steel exports fell 10.41% month-on-month, and hot-rolled coils fell 22.7% month-on-month.
Chinese Steel FOB Price (Unit: USD/ton)
| Varieties | Port | Price (USD/ton) | Month-on-month decrease (US dollars/ton) |
| Hot-rolled coils | Tianjin Port | 458 | -39 |
| Cold-rolled coils | Tianjin Port | 544 | -24 |
| Hot-dip galvanized coils | Tianjin Port | 600 | -22 |
| Medium and thick plates | Tianjin Port | 465 | -31 |
| Rebar | Zhangjiagang | 475 | -28 |
| Wire rods | Zhangjiagang | 475 | -34 |
China’s Export Overview
In July 2024, the export volume of steel products was 7.83 million tons, a decrease of 10.41% from the previous month and an increase of 8.5% from the previous year. From January to July, the cumulative export volume was 61.23 million tons, an increase of 21.8% year-on-year. The import volume was 500,000 tons, a decrease of 12.28% from the previous month and a decrease of 25.6% year-on-year. From January to July, the cumulative import volume was 4.12 million tons, a decrease of 6.7% year-on-year. Overall, affected by the traditional off-season demand, the export volume continued to decline in July, the domestic supply and demand pressure was high, and the import volume continued to decline.
Export volume of major steel products in China (10,000 tons)
| Types | July 2024 | Month-on-month | January-July 2024 | Year-on-year |
| Steel | 782.7 | -10.5% | 6122.7 | 21.8% |
| Billet | 35.2 | 13.8% | 182.4 | -5.6% |
| Rods and Steel wires | 89.9 | -13.9% | 700.4 | 10.3% |
| Hot-rolled coils | 152.2 | -22.7% | 1578.2 | 47.8% |
| Cold-rolled coils | 62.3 | -13.7% | 460.2 | 22.6% |
| Medium and thick plates | 74.6 | -14.7% | 555.5 | 14.6% |
| Coated plates | 155.9 | 4.5% | 1070.3 | 20.6% |
| Coated plates (strips) | 59.6 | -9.0% | 416.1 | 16.2% |
| Angle profiles | 41.0 | 5.3% | 292.0 | 10.1% |
| Pipes | 83.5 | -12.6% | 610.7 | 3.9% |
| Railway steel | 8.3 | 28.5% | 46.4 | 42.9% |
| Electrical steel plates (strips) | 13.3 | 28.4% | 83.0 | 22.6% |
| Others | 42.1 | -11.6% | 309.9 | 16.6% |
Top 10 destination markets for China’s finished steel exports (10,000 tons)
| Country | July 2024 | Month-on-month | Year-on-year |
| Vietnam | 62.6 | -27.3% | -2.2% |
| South Korea | 53.1 | -11.4% | -13.2% |
| Thailand | 52.6 | 26.1% | 77.4% |
| Philippines | 41.3 | -11.0% | 9.4% |
| UAE | 38.8 | -1.9% | 44.4% |
| Brazil | 36.5 | 23.8% | 34.5% |
| Indonesia | 35.4 | -12.5% | 50.8% |
| India | 29.1 | -7.4% | 0.5% |
| Saudi Arabia | 28.7 | -11.2% | 37.2% |
| Türkiye | 22.9 | -45.3% | 7.8% |
In July 2024, China’s billet exports were 350,000 tons, up 13.76% from the previous month and 36.17% from the previous year. From January to July, China’s total billet exports were 1.82 million tons, down 110,000 tons from January to July last year, a decrease of 5.64%. Overall, China’s billet exports showed a steady upward trend.
The export value of Chinese billets per ton was US$500/ton, down US$53/ton from July last year, a decrease of 9.65%. Judging from the trend of China’s billet export value, in the past year, the export value of billets per ton has fluctuated in the range of US$500-580, and the price in July was the lowest in a year.
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