Caixin
Oct 27, 2022 03:25 AM
ECONOMY

China Steel Exports Plunge for Fourth Straight Month

A steel mill in Liuzhou, Guangxi.
A steel mill in Liuzhou, Guangxi.

Chinese steel exports fell four months in a row amid weakening global demand, another signal of the world economy’s precarious situation amid rising inflation and a global energy crunch.

In September, China exported 4.984 million tons of steel, down 19% from August and up only 1.3% year-on-year. It was the lowest monthly export total since May, according to China Customs data. For the first nine months, China exported 51.2 million tons of steel, down 3.4% year-on-year. China’s steel exports fell sharply early in the year because of Russia’s invasion of Ukraine but started to pick up in May.

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