China's steel products import-export gap grew in July

China’s steel products import-export gap grew in July

According to the latest statistics from Customs General Administration, the gap between China's steel products imports and exports grew to the largest level of 2005 in July. The widening trade gape came despite both imports and exports experiencing declines in July. China's steel product imports decreased by 15 percent month on month to 2.14 million tons in July, while exports decreased by 30 percent to 1.54 million tons. The deficit between imports and exports rose 87.5 percent month on month to 660'000 tons, the largest disparity so far this year. With July's figures, total steel product imports in the first seven months of 2005 reached 15.35 million tons, down 24.4 percent year on year. On the other hand, exports increased 121.6 percent to 13.11 million tons year on year. The gap between imports and exports decreased 84.4 percent (12.11 million tons) year on year to 2.24 million tons.