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Chinese Steel Exports to Latin America Down by 10pct in 11 Months
Date:2018-01-09      Views:568Time      Label:Chinese Steel Exports to Latin America Down by 10pct in 11 Months

Alacero reported that China shipped to the world 67.4 million tonnes of steel, which 61.7 million tonnes were finished steel (long steel, flat steel and seamless pipes) and 5.7 million tonnes were steel-derivatives products. This volume is 32% lower than registered during Jan/Nov 2016 (98.6 million tonnes). For its part, Latin America accounted for 9.4% of total global exports, increasing its participation in 2.3 percentage points versus Jan/Nov 2016 (7.1%) and continuing at third place as China’s preferred destination. The region is preceded by South Korea (10.6 million tonnes, 16% of the global total) and Vietnam (7.2 million tonnes , 11% of the total).

In this period, Latin America received 6.3 million tonnes of Chinese steel products, which 5.6 million tonnes were finished steel and 686 thousand tons were steel-derivatives products. This volume is 10% lower than 7.0 million tonnes recorded in Jan/Nov 2016. Also, it should be noted that Latin America is the main global destination of steel-derivatives, with a participation of 12%, which equates 686 thousand tonnes. The region is followed by the Philippines (370 thousand tonnes, 7% of the total) and India (321 thousand tonnes, 6% of the total).

In November 2017, Latin America received 463 thousand tons of steel from China. Of this volume, 415 thousand tonnes were finished steel and 48 thousand tonnes were steel-derivatives products. This total is 23% higher than registered in the previous month which entered 375 thousand tonnes (342 thousand tonnes of finished products and 33 thousand tonnes of derivatives products) and 37% lower versus 735 thousand tons from November 2016 (510 thousand tonnes of finished products and 60 thousand tons of derivatives products). The main destinations for Chinese steel (finished + steel-derivatives) in Latin American during Jan/Nov 2017 were: Central America which received 1.3 million tonnes (20% of the region); Chile with 1.2 million tonnes (19%); and Peru, 869 thousand tonnes (14%).

In this eleven months of the year, the countries that increased their imports of Chinese steel (in percentage terms) versus Jan/Nov 2016 were Ecuador (+22%), Dominican Republic (+20%) and Chile (+5%). Contrary, the countries that have reduce their imports of Chinese steel products versus Jan/Nov 2016 were: Venezuela (-55%), Cuba (-51%), Central America (-26%), Paraguay (-23%), Argentina (-15%), México (-6%), Brazil (-5%), Colombia (-3%) and Peru (-3%).

Chinese finished steel exports by products

Flat steel were the main products imported by Latin America from China during Jan/Nov 2017, reaching 4.3 Mt (68% of total). The most relevant products in terms of volume were:

Other alloyed steel sheets and coils (1.2 million tonnes , 28% share of flat steel imported from China)

Hot dip galvanized sheet (1.0 million tonnes , 24%)

Cold rolled coil (771 thousand tonnes, 18%)

Long steel: China exported to Latin America 1.1 million tonnes (18% of the total), mainly concentrated in:

Wire rod (548 thousand tonnes, 49% share of long steels)

Bars (462 thousands tonnes, 41% )

The region received 218 thousand tons of seamless pipes (3% of the total).

Meanwhile, steel-derivate products represent 11% of total imports of Chinese steel in the region, with a volume of 686 thousand tons, where:

Welded tubes (555 thousands tonnes)

Wire (131 thousands tonnes)