SHANGHAI, Oct. 17 (SMM) – Outbound shipments of Chinese finished steel products are expected to be strong in October, Shanghai Metals Market’s ferrous branch Steelease foresees.
Growing demand in major destinations and export profits are two major driving factors for robust exports in October, Steelease understands.
Manufacturing PMIs for September in EU and India – China’s major steel export destinations – were 50.3 and 51, respectively, indicating the expansion in manufacturing activities, which will increase demand for steel products.
In September, China exported 8.52 million tonnes of finished steel, up 9.8% month-on-month and 73.2% year-on-year, China Customs data showed.
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