WEEKLY: China steel exports dull amid weak supply, demand

Chinese steel exports have been very quiet recently, both because steel mills have little inclination to sell abroad and because overseas buyers are also holding back, concerned about new export taxes, market sources said.

The central government’s removal of export duties of 13% on 23 additional steel products only took effect on August 1, a Beijing-based steel trader observed. “Buyers need some time to accept such a jump in prices (and) there is also talk that new export taxes may be imposed soon,”he