Chinese Steel Exports Hit Year High

October Chinese steel exports jumped for the fifth straight month to the highest level this year, coming in at 2.7 million tonnes (mt), a double from the year's low in May.

All-time record Chinese steel production levels have tipped China into a meaningful net export position and even small increases in exports from a region that is half the globe's steelmaking capacity are already having a domino effect in depressing steel prices in other regions.

The uptick in exports and a 17% decline in total imports caused net exports to more than triple in the month to 900,000 tonnes from 280,000 tons in September. ...