Chinese stainless steel products quarterly exports surge piercingly

BEIJING (Scrap Monster) : According to the latest statistics released by the Stainless Steel Council of China Special Steel Enterprise Association (CSSC), the exports of stainless steel products from the country has witnessed a sharp rise during the first quarter of the year.

The country’s total exports of stainless steel products totaled 715,000 tonnes during the first quarter of 2013, which is 45.2% higher when compared to the previous quarter and 58.2% higher when compared to the same quarter a year ago.

On the other hand, there was a considerable drop in the imports of stainless steel products into the country. Chinese total imports during the first quarter of 2013 amounted to 167,200 tonnes, which is 27.6% lower than those during the previous quarter and 15.6% lower than the imports during same quarter the previous year.

The data points out that the country’s total crude steel output during Q1 2013 was 4.4 million tonne, which is 1.7% lower than the output during the previous quarter. Out of the 4.4 million, production of 300 series grade accounts for 2.13 million tonnes, that of  200 series grade constitutes 1.29 million tonnes and  that of  400 series grade totals to 0.98 million tonnes.

Meanwhile, according to the data released by the National Bureau of Statistics, the country’s overall crude steel output amounted to 191.89 million tonne during the initial quarter of the year. The crude steel production is up by 9.1% year-on-year.

The data further suggests that China’s average daily crude steel output was at record highs during the last week of April.