Steel Products

In the first quarter of 2009, China exported 5.14 million tons of steel products accumulatively, down by 54.9% YOY. In March, the steel exports amounted to 1.67 million tons, dropped by 59.8% YOY. From January to March, the net exports of the steel products and billets were converted into 1.12 million tons of crude steel, decreased by 85.3% YOY, which was equivalent to the net exports of 4.52-million-ton crude steel in the whole year, down by 43 million tons compared with the net exports in 2008. In March, it was the first time that the net imports were shown in the steel products and billet converting into crude steel.

In March 2009, China exported 1.67 million tons of steel products and no steel billet was exported; imported 1.27 million tons of steel products and 460 thousand tons of steel billets. If all converted into the crude steel, in March, China totally exported 1.78 million tons of steels, increased by 120 thousand tons and up by 7.05% at link relative ratio; decreased by 2.66 million tons and down by 59.95% year on year. If all converted into the crude steel, in March, China totally imported 1.81 million tons of steels, increased by 340 thousand tons and up by 23.34% at link relative ratio; increased by 180 thousand tons and up by 11.36% year on year. In March, the net import volumes of the steels were 30 thousand tons in China, which had been the first time that took place the net import of steels in single month. From January to March, the accumulative net exports of the steels amounted to 1.13 million tons, decreased by 6.58 million tons and down by 85.32% year on year.

The composite index of the steel price went up again from the bottom low of 101.5 points in November of last year in Chinese market to 109 points in February this year. Subsequently, the prices of the steels were down all the way and to 95 points on 17th, April compared with the climax this year, in which the prices of 12mm deformed steel bar and 2.75 mm hot rolled coil were dropped by 660 Yuan per ton and 733Yuan per ton compared with the climax this year, down by 16.3% and 17.6% respectively.

Compared with the end of last year, the price index of the steels in Chinese market was 97.59 points in the end of March, down by 5.71 points compared with the 103.3 points in the end of last year, 5.53% of reduction rate, in which the price index of the long steels was cut down by 8.36% as well as 4.6% down in the price index of the board steels. Overall, at present, the price of the steel products in Chinese market continues to drop, which has been already lower than the price in 1994.

In the first quarter of 2009, the yields of the crude iron were increased by 5.039 million tons year on year in China as well as the increases in the consumption volumes of the ore into the furnace, which amounted to 7.9616 million tons. However, in the first quarter of 2009, the import volumes of the iron ore were increased by 20.8611 million tons year on year, 12.8995 million tons more imported than the consumption volumes of the ore into the furnace. In addition, the yields of the domestic fine ore were grown in the first quarter. It was obvious that the supplies of the ore into the furnace exceeded the demands in the domestic market.

Source: articlesbase