Steel product exports soar in Hubei province

Steel product exports soar in Hubei province

China’s Hubei province saw exports of steel products surge 28.5-fold during the first quarter of 2005 to reach nearly $200 million. Wuhan Customs disclosed that Hubei’s total value of imports and exports in Q1 rose 42% year on year to hit $1.967 billion. Specifically, exports increased 50.4% to $996 million, while imports rose 34.2% to $971 million. A surge in billet/slab exports was the major driving factor behind the astronomical increase in steel product exports from Hubei.