China's steel and aluminum exports increased significantly in April, showed the latest data of the General Administration of Customs on May 8.
Steel exports hitting a high of 6.48 million tonnes in the month since last August, flat with the year-ago level but jumping 14.7% from a month ago.
Aluminum exports increased 4.9% on the year and 0.2% on the month to 451,000 tonnes, data showed.
The April export increase indicated the US tariff policy had limited influence on China's sales of steel and aluminum products in overseas markets.
The Trump administration imposed additional tariff on steel and aluminum imports by 25% and 10% effective March 23.
Analysts said impacts of US tariff on international aluminum market have been offset by its sections against Russian UC RUSAL, leading to price surges in the global aluminum market and prompting Chinese exports to the overseas markets.
UBS analyst Lachan Shaw said U.S. tariff policy hasn't had a substantial impact on trades of steel and aluminum, at least not at present as some US manufacturers pay tariffs to ensure the amount of imports they need.
Sources:sxcoal
Please Contact Us at：
admin@xindemarine.com
