Steel products exports surge 18-fold at Tianjin port
Chinas Tianjin port exported 7.36 million tons of steel products worth a total US$4.6 billion during the first two months of 2005, according to Tianjin Customs data. Such activity represents an 18-fold increase in tonnage and a 25-fold increase in value year-on-year. The US, South Korea and the European Union (EU) are the major export destinations for Tianjin Customs. Steel products exports to these areas account for half of the total at Tianjin. According to Tianjin Customs, the large price difference between Chinas domestic level and the international level has been the major driving force for steel products export at Tianjin port. Flat steel products took the lead in export quantity, up 12-fold year-on-year to reach 2.25 million tons during the January-February 2005 period.