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CISA: Steel exports could stay high in 2015...

According to China Iron & Steel Association (CISA), the country's steel exports will remain high in this year due to low prices and firm demand offset the scrapping of an export tax rebate on certain products.
Although Chinese government tried hard to control the exports of steel products to avoid the increasing trade frictions with other countries, such as by cutting the production capacity and reduce the pollution, collapse in iron ore prices had in favor of Chinese steelmakers maintain the supply of cheap products for oversea markets.
China boosted steel exports by around 50% in 2014 to a record high 94 million tons and Western industry bodies see little sign of a major rationalization of the industry.
Exports of steel products rose by 41% in the first quarter from a year before to 25.78 million tons. China's apparent consumption of crude steel dropped by 6.2% to 177 million tons in the first quarter this year against a fall of 4% in the whole of 2014.

Yieh.com

May 3, 2015 12:01
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