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| China's Oct Steel Exports Down 30.7% To 4.62M Tons |
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China's exports of finished steel products totaled 4,620,000 tons in October 2008, down 2,050,000 tons or 30.7% from a month ago (up 9.2% from a year ago), when its exports of steel ingots and semifinished steel products totaled 110,000 tons, down 47.2% from a month ago (down 39.4% from year ago), according to information made available in Tokyo. As a result, China's finished steel exports decreased to a level of 4,000,000 tons for the first time in six months since April 2008. Meanwhile, China's imports of finished steel products totaled 1,150,000 tons in October 2008, down 9.4% from a month ago (down 6.5% from a year ago), when its imports of steel ingots and semifinished steel products totaled 20,000 tons, the same as the month before (down 16.7% from a year ago). China's steel exports rose to a monthly level of 5,000,000 tons from May this year. They totaled 7,240,000 tons in July and 7,680,000 tons in August, but they fell off to a total of 6,670,000 tons in September, down 13.2% or 1,010,000 tons from a month ago. In October, though, the world's steel demand slackened. At the time, Chinese steelmakers looked poised to reduce prices for assured export volumes, but they ended in much less exports in October than what they won a month ago. With a further diminution in the world's steel demand, there are forecasts that China's finished steel exports will come under a more decline in November at a time of falling iron and steel production in the world's various nations. |
| last modified : Mon 17 Nov, 2008 [10:23] |
