China's composite steel price index fell to 61.73 points in September, down another 2.58 points from August, according to data from China's National Development and Reform Commission (NDRC).
Prices for steel products in China continued to fall despite the reduction in steel production, which in the first three quarters of this year lost 2.1 percent from last year.
Exports soared 27.2 percent year on year to 83.11 million tons, while imports fell 11.6 percent to 9.73 million tons.
The Chinese authorities have recently taken a series of desperate measures to reduce overcapacity in the steel industry, the aluminum industry, the production of cement and glass and a number of building materials, banning the approval of new projects in these industries.
Steel prices in China fell despite production cuts
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Azovpromstal® 26 October 2015 г. 12:22 |
