Shandong steel products exports surge

Shandong steel products exports surge

During the first two months of 2005, China’s Shandong port exported a total of 241’000 tons of steel products carrying a combined value of US$140 million. These figures indicate a 1.9-fold increase in tonnage and a 2.1-fold increase in value year on year. Bar products and flat steel products led the exports, accounting for 60% of the total. State-owned steel enterprises are the major steel exporters in Shandong province. They accounted for 182’000 tons (75.8%) of total exports in the first two months of 2005. A quarter of Shandong province's steel exports headed for South Korea. Other destinations include EU and ASEAN member nations.