Chinese Steel Exports Breakdown
Of the 7.0 Mt of steel China exported in May, 4.3 Mt were to destinations in Asia, down by 1.9 Mt year-on-year, marking the seventh consecutive month of annual decline, customs data show. At 21.4 Mt, Chinese steel shipments to the region have now fallen by 8.1 Mt in the first five months of the year. There was also a sharp drop in steel exports to the Middle East in May - at 0.6 Mt shipments were less than half the year-ago level. Steel exports to Africa (0.5 Mt) and Europe (0.3 Mt) also declined, however, there was a modest increase in cargoes to the Americas (0.9 Mt).