China reports twofold rise in CRC exports during Nov '14

The most recent statistics released by the Chinese customs indicate huge surge in exports of Cold Rolled Coils

BEIJING (Scrap Monster): The most recent statistics released by the Chinese customs indicate huge surge in exports of Cold Rolled Coils (CRC) from the country during the month of November this year.

According to Customs data, the country’s CRC exports during the month totaled 403,861 tons, up by nearly 123% when compared with the exports of 180,834 tons during the same month a year ago.

The largest export destination of Chinese CRC during Nov ’14 was Philippines. The shipments to Philippines more than doubled to 50,462 tons during the month, when compared with the exports of 23,858 tons during Nov ’13. The second largest importer of Chinese CRC was the US with 31,368 tons. The CRC shipments to the US dropped significantly, plunging to almost one-third when compared with the previous month.

The cumulative CRC exports by the country during the initial eleven-month period of the year totaled 4.41 million tons, up by 55% over the previous year. The CRC exports from China during January to November had totaled 2.85 million tons during 2013.