SHANGHAI, Jul. 16 (SMM) – Outbound shipments of China's finished steel products are expected to fall in July, Shanghai Metals Market’s ferrous branch Steelease foresees.
The drop will be mainly due to the off-demand season of manufacturing sectors in countries in the northern hemisphere, Steelease says.
The wait-and-see stance among overseas buyers, resulting from continuous price declines will be also blamed for the decline, Steelease adds.
In June, China exported 8.89 million tonnes of finished steel, down 3.4% month-on-month, but up 25.7% year-on-year, according to China Customs, with Jan.-Jun. exports totaling 52.42 million tonnes, up 27.8% year-on-year.
Imports of finished steel imports were 1.17 million tonnes during the month, up 11.4% month-on-month, and 3.5% year-on-year, according to data.
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