The latest trade statistics published by the China Customs General Administration indicate a significant decline in exports became the country during July of this year.
According to customs data, in July 2019, the country exported 5.57 million tons of metal products, which is significantly lower by 19.7% compared to the previous year. Chinese metal exports in July last year amounted to 6.94 million tons. This is the third consecutive month when the country's exports drop below 6 million tons. Total exports for the first seven months of this year amounted to 41.183 million tons, slightly decreasing by 2.9% compared to the same period last year.
The fall in exports was mainly due to a higher domestic price of steel compared to the export price and high domestic demand for steel products.
A corresponding decrease was recorded in Chinese steel imports. Imports for July 19 decreased by 19% compared to the same period last year and amounted to 842,000 tons. Imports in January-July 19 also showed a decrease of 13.4% compared with the previous year, amounting to 6.664 million tons.
