SEAISI Requires China to Restrict Steel Exports

SHANGHAI, Sept. 2 (SMM) - South East Asia Iron & Steel Institute (SEAISI) requires China to restrict its steel exports to South East Asian countries and cancel existing export rebate for related products, SMM reports.

Imported steel from China is more cost-efficient, but steel cost only represents 15%-30% in total construction costs. Construction cost is more subject to architectural structure, according to the SEAISI.

China’s steel exports to Malaysia and Vietnam jumped 71.3% and 68.5%, respectively, on the YoY basis, in the first half of 2015. Exports to Asian countries totaled 36.55 million tonnes, up 32% YoY, which accounts for 69.8% in total exports. 

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