Chinese steel exports to emerging markets have quickened pace compared with those shipped to some developed countries during the first four months of 2015.
Steel exports to ASEAN member states jumped 49.7% year on year (y/y) to 10.5 million tonnes in the first four months of 2015, accounting for approximately 30% of total exports during the period, according to Chinese customs figures.
Exports to India and Pakistan have also nearly doubled y/y to 1.2 million tonnes and 761,000 tonnes during the same period. The exports to Saudi Arabia and the United Arab Emirates rose 36.9% and 67.7% y/y to 688,000 tonnes and 750,000 tonnes respectively.
Steel exports to EU member states rose 23.9% y/y to 2.3 million tonnes during the period.
In contrast, exports to the United States fell 0.35% y/y to 1.1 million tonnes because of anti-dumping probes launched on Chinese exporters recently.
Similarly, the exports to South Korea remained flat, up 0.1% y/y to 4.3 million tonnes in the first four months.