China increases exports to Southern Europe

China exported 3,856,523 metric tons of steel in August (up 188 percent year on year), totaling 24,530,514 metric tons through January-August 2006 (up 69.8 percent year on year). The exports to Italy and Spain accounted for approximately 10 percent of China's exports in August 2006, while they had accounted for only 2.7 percent in August 2005. In August, S. Korea remained the largest steel importer from China with 836,625 metric tons and 5,656,672 metric tons over the first eight months of the year. The US is still the second largest importer from China with 518,320 metric tons in August and 3,332,675 mt in the January-August period. However, exports to Italy have increased dramatically year on year; 7.5 times to 253,243 metric tons in August and 4.2 times to 1,670,610 metric tons in the first eight months of 2006, making it the third largest importer. Meanwhile, Spain was the sixth largest importer with 135,434 metric tons in August and 939,972 metric tons through January-August, after Singapore (163,572 metric tons in August and 883,539 metric tons in the first eight months of 2006) and Taiwan (158,182 metric tons in August and 806,384 metric tons in Jan-Aug). India (122,991 metric tons in August and 758,324 metric tons in Jan-Aug) and Vietnam (120,664 metric tons in August and 1,029,406 metric tons in Jan-Aug) followed Spain. Chinese exports to the UAE also increased significantly - by 7.2 times to 99,628 metric tons in August, and by 2.7 times to 423,699metric tons in the January-August period of 2006.