Chinese steel exports drop 23% in'08
steelguru.com 2008-03-21
Mr Luo Bingsheng executive vice chairman of the China Iron and Steel Association said that China's steel exports are expected to fall to 48 million tonnes in 2008.
Mr Luo said at a conference said that the government's measures to curb steel shipments overseas will have an impact this year and may lead to further rise in steel prices. He said higher iron ore costs and the yuan's appreciation will also contribute to lower steel exports in 2008.
Mr Luo added that Chinese domestic consumption growth of crude steel is seen at 11% in 2008 down by 0.8 as compared to 2007 level.
China's steel exports in 2007 stood at 62.65 million tonnes up by 45.67% YoY.
(Editor : jane)
Mr Luo said at a conference said that the government's measures to curb steel shipments overseas will have an impact this year and may lead to further rise in steel prices. He said higher iron ore costs and the yuan's appreciation will also contribute to lower steel exports in 2008.
Mr Luo added that Chinese domestic consumption growth of crude steel is seen at 11% in 2008 down by 0.8 as compared to 2007 level.
China's steel exports in 2007 stood at 62.65 million tonnes up by 45.67% YoY.
(Editor : jane)
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