China's offshore platform steel exports increase in June 2021

According to data released by the General Administration of Customs, in June 2021, China exported 6.458 million tons of offshore platform steel and so on steel products, an increase of 74.5% year-on-year; from January to June, the cumulative export of steel products was 37.382 million tons, an increase of 30.2% year-on-year.

In June, China's offshore platform steel and so on steel exports increased by 1.187 million tons month-on-month, a significant year-on-year increase, and also increased compared with the same period in 2019.

Widening spreads stimulate steel exports: China's domestic steel market prices fell from a high level in mid-May, and the price gap with overseas markets gradually widened. Domestic steel prices continued to adjust in June. At the same time, domestic demand also weakened, and overseas demand was stronger, which stimulated the export willingness of enterprises. Combined with the delay of orders due to tight shipping in the early stage, the offshore platform steel and so on steel export still maintained a large scale in June, and the average export price continued to rise.

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