Strong Exports Expected for Chinese Finished Steel Products in July

Jul 10, 2014 14:52

Source:SMM

Strong exports are expected for Chinese finished steel products in July, Shanghai Metals Market’s ferrous branch Steelease foresees.

SHANGHAI, Jul. 10 (SMM) – Strong exports are expected for Chinese finished steel products in July, Shanghai Metals Market’s ferrous branch Steelease foresees.

Price advantages of Chinese products and high profits from exports are major reasons behind our estimation. Steel demand in China’s domestic market is weakening with the arrival of off-season for manufacturing activities. This, combined with export rebate for boron steel products, will propel domestic enterprises to increase exports for securing profits, Steelease expects.

In addition to the recovery of manufacturing activities in EU and India, manufacturing PMIs in most countries in the Northern Hemisphere remain in expansion, which will also increase demand for steel products.

China Customs showed that China exported 7.07 million tonnes of finished steel products in June, down 12.4 from May, but up 33.6% from a year ago; Imports of finished steel were 1.13 million tonnes, down 7.4% from May, but up 4.6% from 2013.

China steel trade

China finished steel exports

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Strong Exports Expected for Chinese Finished Steel Products in July

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