China, net exporter of construction steel in 5 months
Rebar and wire rod products continued to remain as the major agents of Chinese imports and exports through the first five months of 2005. The exports of these products continued rising while the imports dwindled. The increase in exports came despite China's 2% downwards adjustment on steel products export rebate in May. According to the statistics data, China's rebar and wire rod imports are estimated as 50'000 tons and 300'000 tons respectively for January-May 2005. On the other hand, China's rebar and wire rod exports through the same period are estimated as 750'000 tons and 1.3 million tons respectively for the first five months of 2005.