From July 14 to July 20, China’s total shipment volume of steel exports reached 1.8781 million tons, representing a month-on-month increase of 717,300 tons and a year-on-year decrease of 799,100 tons, with a remarkable sequential growth.

The sharp rise in this period’s data is mainly driven by the massive cargo backlog at ports last week caused by Super Typhoon Bavi, leading to compensatory concentrated shipments this week.

Restrained by adverse weather, the steel shipment volume stood at merely 1.1608 million tons last week. Although the figure rebounded to a level slightly above the average this week, shipping capacity has not been fully unlocked, and export turnover at some northern ports remains sluggish.