According to the China Metallurgy Association (CISA), improvements in the quality and structure of steel products resulted in China's export price of USD 798.8 per tonne in October, the highest since February 2014.
In the first 10 months of this year, the average export price for steel products was USD 700.8 per tonne, which is USD 211 or 43.1 percent more than in the same period last year.
Despite a 30.4 percent drop in steel exports by 64.49 million tons over a ten-month period, export earnings fell 0.3 percent to nearly $ 45.2 billion.
This is reflected in the improved structure and quality of steel exports, said Gu Jianguo, deputy head of CISA.
Most of China's steel mills have achieved more thanks to the country's ongoing capacity building efforts, which are a key part of ongoing supply-side structural reform.
In January-October, CISA members said their sales return reached 4.41 percent, up from 2.77 percent in the first quarter of this year.
China has completed its target of cutting steel production by 50 million tonnes this year by ditching substandard steel makers and zombie companies, according to the National Bureau of Statistics.
China steel export price hits four-year high
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Azovpromstal® 20 December 2017 г. 12:21 |
