China’s H1 steel exports down 2.6% on year
Jul 12, 2019 17:30
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China exported 34.4 million tonnes of steel in this year’s first half, representing a decline of 2.6% or 919,000 tonnes on year, according to data from China’s General Administration of Customs (GACC) released on July 12. Significantly, the decrease reversed the 2.5% year-on-year increase seen in exports over January-May, Mysteel Global noted.
Market sources attributed the decline to weakening demand in global markets, as well as the uncompetitive export prices of China-origin products.
“The weakening global economy this year has resulted in declines in steel demand in overseas markets while at the same time, domestic prices were still comparatively higher than those in