Flat-Rolled Steel Products Prices in China

China Flat-Rolled Steel Products Export Price in August 2022

In August 2022, the flat-rolled steel products price stood at $1,463 per ton (FOB, China), remaining relatively unchanged against the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in April 2022 an increase of 4.5% against the previous month. The export price peaked at $1,507 per ton in June 2022; afterwards, it flattened through to August 2022.

Average prices varied somewhat for the major external markets. In August 2022, the countries with the highest prices were Turkey ($1,741 per ton) and the Philippines ($1,605 per ton), while the average price for exports to Italy ($1,305 per ton) and Thailand ($1,321 per ton) were amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

China Flat-Rolled Steel Products Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was iron or non-alloy steel; flat-rolled, width less than 600mm, plated or coated with tin ($2,000 per ton), while the average price for exports of iron or non-alloy steel; flat-rolled, width 600mm or more, plated or coated with tin, thickness of 0.5mm or more ($300 per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was recorded for the following types: iron or non-alloy steel; flat-rolled, width less than 600mm, plated or coated with tin (+2.6%), while the prices for the other products experienced a decline.

China Flat-Rolled Steel Products Exports

In August 2022, after two months of decline, there was significant growth in shipments abroad of flat-rolled products of iron or non-alloy steel, when their volume increased by 38% to 205K tons. Overall, total exports indicated buoyant growth from January 2022 to August 2022: its volume increased at an average monthly rate of +6.4% over the last seven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, exports increased by +38.2% against July 2022 indices. The most prominent rate of growth was recorded in May 2022 with an increase of 53% month-to-month. Over the period under review, the exports hit record highs in August 2022.

In value terms, flat-rolled steel products exports soared to $299M (IndexBox estimates) in August 2022. In general, total exports indicated a strong expansion from January 2022 to August 2022: its value increased at an average monthly rate of +6.2% over the last seven-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, exports increased by +36.4% against July 2022 indices. The pace of growth was the most pronounced in May 2022 with an increase of 53% m-o-m. The exports peaked in August 2022.

China Flat-Rolled Steel Products Exports by Type

Iron or non-alloy steel; flat-rolled, width 600mm or more, plated or coated with tin, thickness of less than 0.5mm (204K tons) was the largest type of flat-rolled steel products exported from China, accounting for a 100% share of total exports. It was followed by iron or non-alloy steel; flat-rolled, width less than 600mm, plated or coated with tin (889 tons), with a 0.4% share of total exports.

From January 2022 to August 2022, the average monthly rate of growth in terms of the volume of export of iron or non-alloy steel; flat-rolled, width 600mm or more, plated or coated with tin, thickness of less than 0.5mm stood at +6.4%. With regard to the other exported products, the following average monthly rates of growth were recorded: iron or non-alloy steel; flat-rolled, width less than 600mm, plated or coated with tin (+14.2% per month) and iron or non-alloy steel; flat-rolled, width 600mm or more, plated or coated with tin, thickness of 0.5mm or more (-65.8% per month).

In value terms, iron or non-alloy steel; flat-rolled, width 600mm or more, plated or coated with tin, thickness of less than 0.5mm ($297M) remains the largest type of flat-rolled steel products exported from China, comprising 99% of total exports. The second position in the ranking was taken by iron or non-alloy steel; flat-rolled, width less than 600mm, plated or coated with tin ($1.8M), with a 0.6% share of total exports.

From January 2022 to August 2022, the average monthly growth rate of the export volume of iron or non-alloy steel; flat-rolled, width 600mm or more, plated or coated with tin, thickness of less than 0.5mm totaled +6.2%. With regard to the other exported products, the following average monthly rates of growth were recorded: iron or non-alloy steel; flat-rolled, width less than 600mm, plated or coated with tin (+17.2% per month) and iron or non-alloy steel; flat-rolled, width 600mm or more, plated or coated with tin, thickness of 0.5mm or more (-75.6% per month).

China Flat-Rolled Steel Products Exports by Country

Italy (31K tons), Mexico (19K tons) and Saudi Arabia (16K tons) were the main destinations of flat-rolled steel products exports from China, together comprising 32% of total exports. These countries were followed by Turkey, the United States, Belgium, Spain, the United Arab Emirates, Russia, Thailand, Vietnam, the Philippines and Singapore, which together accounted for a further 38%.

From January 2022 to August 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +39.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for flat-rolled steel products exported from China were Italy ($40M), Mexico ($26M) and Turkey ($24M), with a combined 30% share of total exports. Saudi Arabia, the United States, Belgium, Spain, the United Arab Emirates, the Philippines, Russia, Vietnam, Thailand and Singapore lagged somewhat behind, together comprising a further 38%.

Among the main countries of destination, Russia, with a CAGR of +41.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform