China's steel exports are expected to increase slightly month on month in September

According to the statistics of the customs, in July 2020, China's steel exports totaled 4.176 million tons, an increase of 475000 tons on a month on month basis, and a year-on-year decrease of 1.394 million tons. In terms of varieties, the export of steel plate in July was 2.55 million tons, with an increase of 347000 tons on a month on month basis, and a decrease of 607000 tons on a year-on-year basis; the export of rod and wire rod was 465000 tons, an increase of 70000 tons on a month on month basis, and a decrease of 377000 tons on a year-on-year basis. In August 2020, the total domestic steel export volume was 3.678 million tons, with a month on month decrease of 12% and a year-on-year decrease of 26.6%.

In July, the global crude steel output (except China) was 59.34 million tons, with a year-on-year decrease of 16.5% and a month on month increase of 3.9%; the apparent consumption decreased by 19.8% year-on-year and increased by 3.4% month on month, indicating that the global steel market shows signs of slow recovery. With the further recovery of overseas steel market, steel demand will gradually rise, and import and export steel prices will also rise. In August, China's largest steel export region, Southeast Asia HR coil import CFR price gradually rose to 503 US dollars / ton, and exceeded China's export quotation, which may benefit China's steel export in September.