EXPORTS TO STAY STRONG THIS YEAR AFTER RECORD TONNAGE IN 2014 - MEPS
Customs data shows total Chinese exports
of steel products, last year, reached an “all-time” high figure of almost 94
million tonnes. This equates to a year-on-year increase of more than 50 percent.
To put the latest figures into context, Chinese steel exports in 2014 were
equivalent to 90 percent of the total output from the world’s second largest
producing nation – Japan, over the same period.
The removal of tax rebates on boron-added steel exports is likely to result in a
slight reduction in supply in 2015. This is because substitute alloying elements
for boron are more costly – thus making the resultant alloy steel marginally
more expensive in the market.
However, Chinese mills have built up a solid customer base around the world
through their ability to offer competitively priced steel products. They will be
difficult to dislodge from their dominant position in global steel trade.
Moreover, the latest steel export price reductions will help their cause.
Product quality from the Chinese mills has improved significantly in recent
years and is fit for purpose for a wide range of applications in the engineering
and construction industries.
China Steel Review - January Edition
Also See: www.worldsteelnews.com
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