China Steel Exports Dropped Further in July, While Imports Record New Low    

In July, China imported 789,000 mt of steel, a decrease of 2,000 mt from the previous month, and a year-on-year dr of 24.9%; the cumulative imports from January to July were 6.559 million mt, a year-on-year decrease of 21.9%.    

China steel exports continue to decline with overseas demand staying sluggish

In 2022, after China's steel export volume reached the year-to-date high in May, it immediately entered the downward channel. The monthly export volume in July fell to 6.671 million mt. The steel sector is in the seasonal low in China and abroad, evidenced by sluggish demand from downstream manufacturing sectors. And the orders in Asia, Europe and the United States show no signs of improving. In addition, due to the weak competitive advantage of China's export quotations compared with Turkey, India and other countries on top of other factors, the steel exports continued to decline in July.

China Rebar Stocks Down 5.5% on Week

The total inventory of HRC across social warehouses and steel makers in China stood at 3.80 million mt as of June 16, up 37,900 mt or 1.01% on the week, an increase of 1.81% on the year.

China HRC Stocks Down 99,100 mt on Week

The total inventory of HRC across social warehouses and steel makers in China stood at 3.82 million mt as of August 11, down 99,100 mt or 2.53% on the week, a decrease of 5.17% on the year.

SMM Aluminium Ingot and Billet Social Inventory as of August 11

SHANGHAI, Aug 11 (SMM) - Aluminium ingot: The aluminium ingot social inventories across China’s eight major markets totalled 693,000 mt as of August 11, up 15,000 mt from last Thursday, but 46,000 mt lower than in the same period last year.