Metalnewsnet 23 Jun ：

According to the latest statistics by Customs, China crude steel output in May total 56.14 million tonnes up by 20.7%YoY. Steel export kept jumping to 4.94 million tonnes in May up by 270%YoY or 0.63 million tonnes more than that in April, while steel import decreased by 17.6%YoY to 1.36 million tonnes a fall of 0.14 million tonnes from April.

The accumulated steel exports and imports during January to May went at 17.96 million tonnes and 6.97 million tonnes up by 127.3%YoY and 7.2%YoY respectively. The net export of crude steel accumulated at 3.83 million tonnes in May up 0.90 million tonnes from April. Meanwhile, iron ore import kept falling to 51.90 million tonnes in May down by 3.43 million tonnes from April.

Imported iron ore accumulated at 0.26 billion tonnes during January to May up by 8.4%YoY with a total import value of USD 27.8 billion up by 48.1%YoY. The price of Fe 63.5% Indian ore fine also declined to CNY 1145 per tonne on May 31st at Qingdao port a decrease of CNY 190 per tonne from the yearly summit in mid April.

The composite steel price index stood at 120.4 on May 31st down 6 from Mid April.

As per the statistics by CISA, the prices of 6.5mm wire rod went at CNY 4129 per tonne, 16mm rebar went at CNY 4168 per tonne, 10mm medium plate went at CNY 4782 per tonne, 0.5mm HR sheet went at CNY 4924 per tonne and 0.5mm CR sheet went at CNY 6018 per tonne respectively in end May down by 8.9%MoM, 8.1%MoM, 4.1%MoM, 3.8%MoM and 4.5%MoM.

However, steel inventory picked up at the same time. By end May, steel inventory had piled at 15.78 million tonnes in 26 major cities of China an increase of 0.355 million tonnes from end April or up by 2.3%MoM. Almost all the inventory had resumed to some extent except for that of HR sheet/plate down by 1.4%MoM.

(from MySteel)