Steel exports from China recorded a sharp decline during October this year amid stringent restrictions and duties imposed by several countries on cheap steel products imported from China.
The sharp drop in exports was also driven by increased demand in the domestic market, according to a press statement from the National Development and Reform Commission (NDRC). Meanwhile, centrally controlled state-owned steel mills are reportedly on track to achieve annual reductions in excess capacity.
According to trade data, the country's steel exports totaled 7.7 million tonnes during October this year. This is almost 15% lower compared to the export of 9.06 million tons recorded during the same month a year earlier. For the third month in a row, there has been a decline in exports of Chinese steel products. Meanwhile, total steel exports in the first ten months of this year fell slightly, by 0.7%, compared with the previous year to 92.74 million tons.
Chinese Steel Exports Will Reduce By 15% In October
|
Azovpromstal® 15 November 2016 г. 10:02 |
