In February, The Export Of Color-Coated Sheets Increased By 19% Year-On-Year

In 2023, China's steel exports will get off to a good start. According to data from the General Administration of Customs, China's cumulative steel exports from January to February 2023 will be 12.19 million tons, a year-on-year increase of 49.0%. In February, the export of color-coated sheets and strips increased year-on-year and month-on-month, and the year-on-year increase in February was as high as 19%.

1. In February, the export of coated sheets increased by more than 19% year-on-year, ending 6 months of negative year-on-year growth
According to the data from the General Administration of Customs: in February, the export of color-coated strips was 396,400 tons, a year-on-year increase of 19.22%, and a month-on-month decrease of 16.03%. The main reason is that the Spring Festival this year is earlier than in previous years. Although the export of color-coated sheets increased in February, the total export volume of color-coated sheets (belts) in my country from January to February 2023 totaled 868,600 tons, a year-on-year decrease of 1.41%. It is also the lowest level in the same period in the past two years.

2. The Philippines still maintains its leading position

Top 10 Color-Coated Sheet Exports by Country (Unit: Ton)

Comparing the data of color-coated coil exporting countries in the past two years, the export volume of various countries in 2022 will basically decrease to varying degrees compared with the same period in 2021, among which South Korea, Vietnam, Brazil, and Thailand have the most obvious declines. South Korea was the first exporter of China's color-coated strips in the past two years, but this year it has slipped to third, with a year-on-year decline of 37.4%. Looking at the Philippines again, from fifth in 2020 to third in 2021 to first in 2022, the export volume and proportion continue to increase, becoming the country with the largest export volume of color-coated sheets in China. According to specific data, the volume of color-coated coils exported to the Philippines in 2021 will be 470,000 tons, and the total volume of color-coated coils exported to the Philippines in 2022 will be 518,700 tons, a year-on-year increase of 10.24%; China's total exports of color-coated coils to the Philippines, South Korea, Thailand, Vietnam, and Indonesia accounted for 30.46% of the total export volume. Among the top five exporting countries, only the Philippines will achieve a year-on-year positive growth in 2022, and other countries will all have a certain decline, with a decline of 15.57%-37.4%.

Entering 2023, the Philippines still maintains its advantages since 2022 from January to February. The total export to the Philippines in two months was 88,000 tons, achieving a positive growth of 29.74% year-on-year. In the first two months of this year, Thailand also achieved an increase of 117%, Turkey 104%, Vietnam 44.13%, and Israel 186.47%. In Indonesia and South Korea, these two countries have experienced a decline of more than 20%.

Overall, with the gradual weakening of overseas demand, overseas market prices may show a weakening trend, and the price difference may further narrow. At the same time, with the gradual spread of the impact of the recent overseas banking crisis on the global financial market, overseas demand may gradually turn from hot to cold. The export volume of color-coated sheets in March may continue to maintain a relatively high position under the premise of good orders from January to February. According to the survey, some steel mills have received export orders from April to May. However, judging from the recent export inquiries and order surveys, the export of color-coated strips may decrease to a certain extent from the second quarter. Especially in the case of a large base in the first half of 2022, it is difficult to see substantial growth in the export of color-coated strips. Therefore, it is expected that the export volume of China's coated strips will remain at around 470,000-500,000 tons in March.

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