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| China's April Steel Exports Down 9% To 1.41M Tons |
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China's exports of steel products except semis totaled 1,410,000 tons in April 2009, down 9% from a month ago (down 69.3% from a year ago), when its imports of steel products except semis totaled 1,620,000 tons, up 39.7% from a month ago (up 21.8% from a year ago), according to Chinese trade statistics made available in Tokyo. With more imports than exports by 210,000 tons, China became a net importer of steel products in April as in the case of March. In this connection, a local trade journal points out factors such as slack demand in the world's steel markets and much lower domestic market prices in other nations than in China. Also, it is steel inventory adjustment under way in South Korea that accounts partly for China's decreased steel exports in April 2009, market sources believe. Meanwhile, China's crude steel production fell by 0.3% from a year ago to 45,100,000 tons in March 2009, a year-on-year fall for the first time in three months. But the production volume in the month under review hit a level of 45 million tons, compared with a monthly high of 46,940,000 tons in June 2008. |
| last modified : Mon 18 May, 2009 [12:07] |
