Steelorbis Shanghai
In August, under the influence of market rumors that the Chinese government would cancel the export rebate for steel products, China's steel exporters stepped up their shipments to overseas buyers. As disclosed by insiders, in August China's steel exports again broke the historical monthly record.
China's exports of finished steel in August totaled 7.68 million mt, up 470,000 mt or 6.5 percent compared with July's 7.21 million mt, and up 2.3 million mt or 42.8 percent year on year.
China's total steel imports in August amounted to 1.33 million mt, down 110,000 mt or 7.6 percent month on month and down 130,000 mt or 8.9 percent year on year. The detailed data will be released tomorrow.
China's high steel export volume over the successive months of July and August is expected to accelerate the government's steps towards the issuing of a new tariff policy.