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Chinese steel export faces crunch as global steel output expansion

16 Jun 2011 15:02 reported by WilliamYuan

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Chinese Customs released the latest data showing that in May 2011 China's steel export volume was 4.76 million tons, decreasing by 1 million tons from April and down 3.64% compared to the same period of last year.

Moreover, the export volume has kept dropping for two months since the peak at 4.91 million tons in March. The export of crude steel also was curtailed with the increasing steel production in China.

For the Chinese steel market, it is concerned that rebounding output of steel in global steel market is threatening the steel export from China. The export volume of steel is envisioned to keep slumping, especially in long-term steel export expectation.

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