China's steel exports in October rose by 5.2pc from September to 4.04mn t as Chinese mills shifted supplies to overseas markets with falling domestic prices.
But the October exports fell by 15.5pc from a year earlier, according to preliminary customs data. January-October exports fell by 19.3pc from a year earlier to 44.43mn t.
Most October steel exports shipments were spot orders taken in late August and September when Chinese domestic steel prices were on a downwards trend.
A recovery in global steel demand lifted prices in other major steel exporting countries over this period of a downtrend in China.
China is still unlikely to catch up with the steel export levels last year even with the recent rebound in shipments. A key east China exporter expects Chinese steel exports to fall by at least 10mn t to around 50mn t this year.