EXPORT VOLUMES CONTINUE TO SOAR - MEPS INTERNATIONAL LTD
According to the latest report by MEPS,
Chinese steel mills have responded to the decline in steel prices around the
world by cutting export selling figures. The steelmakers have carefully targeted
their response by making the largest decreases to those products which are in
Merchant bar is the most popular product for sale to export customers of the
Chinese mills. The tonnage supplied into foreign markets increased by
approximately 75 percent in the first seven months of this year. Export offers
for October, are down by 4.5 percent.
A significant price reduction has been scheduled for wire rod exports. This is
the second most popular product, sold into the global market by Chinese
suppliers. So far this year, exports have increased by, in excess of 1.5 million
tonnes, to clients around the world.
In the period, January to August 2014, Chinese exports to North America were
more than double the tonnage despatched in the same time span in the previous
year. The emphasis was on the flat products forms – particularly cold rolled and
metal coated coil. Almost fourfold increases were recorded in the first seven
months of this year compared with 2013.
Chinese supply to East and South East Asian customers continues to expand. Over
half of the total tonnage exported by the mills is scheduled for delivery to
customers in these regions. South Korea is the most popular destination, taking
24 percent of all Chinese rolled steel exports in the first seven months of this
year – up from 18 percent in 2013.
Chinese steel shipments to the European Union were modest but have been
expanding in recent months – encouraged by the competitively priced material.
Since the beginning of this year, imports of Chinese material have increased
substantially – mainly flat products but also wire rod and merchant bars.
China Steel Review - September Edition
Also See: www.worldsteelnews.com
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