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Reflecting general trends in trade in the Chinese economy, March Chinese steel net exports surged 74.6% to 3.72 million tonnes (mt), the highest level since June 2010, on a combination of a 48.4% jump in steel exports and a nominal 4.0% increase in imports.
While the March uptick in exports was actually in line with the normal seasonal pickup, the magnitude of the rise in imports was far less than normal, so the size of the increase in net exports was a surprise.
Although the increase in net exports is helping the Chinese market, it increases the risk of Chinese exports depressing global markets.
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Hi,
I have some clarifications with the news.
– the surge was compared to what period, was it Feb or March last year?
– confused with the 3.72 Mt net steel export from an approx 55 Mt monthly production. The 3.72 Mt is small compared to 55 Mt.
Hope to hear from you.
Thanks