China Steel Exports to Fall in January on Export Policy Adjustment

SHANGHAI, Jan. 16 (SMM) – Outbound shipments of China’s steel products are expected to fall in January 2015, Shanghai Metals Market’s ferrous branch Steelease foresees.  

The removal of export rebate taxes on some boron-added steel products from the beginning of 2015 will negatively affect exports in January, Steelease says.   

Chinese steel exporters stepped up exports before the new policy comes into effect, sending higher exports in December.  

China exported 10.17 million tonnes of steel products in December, up 4.6% month-on-month, and up 89.4% year-on-year. 

PMIs in major export destination countries are expected to fall in January, and this will also weaken demand for steel products.