China’s steel products exports to reach 12 million tons

China’s steel products exports to reach 12 million tons

The China Iron and Steel Association (CISA) said that China’s steel products exports will rise by 72% year-on-year this year to around 12 million tons as domestic manufacturers take advantage of higher prices overseas. At the same time, steel products imports are expected to reach 30 million tons with a decline of 18.9% from a year earlier. In the first nine months, steel output rose by 21.6% year-on-year to 194.2 million tons, while steel products output reached 213.9 million tons with a rise of 22.8%. Furthermore, pig iron production was recorded as 178.4 million tons in the first nine months, up by 21.2% from a year earlier. Steel products output is expected to reach 277 million this year with a rise of 14.9% compared to 241 million tons recorded last year. Steel output will amount 260 million tons in 2004 with a rise of 17% year-on-year while pig iron production is expected to reach 240 million tons, up by 18.6%.