Xinyu Steel to increase exports in 2007

SteelOrbis Shanghai Some insiders in Xinyu Steel have indicated that the company is planning to increase its steel exports next year. According to the reports, Xinyu Steel is targeting monthly exports in 2007 of 50,000 mt for medium plate and 10,000 mt for wire rod. The sources also reported that, with the good export situation, Xinyu Steel's exports may reach about 40,000 mt of medium plate in November. In order to increase its exports for next year, Xinyu Steel has gradually reduced supply to domestic customers, by an average of about 10 percent. If the company continues to attach more importance to overseas markets and to ignore the domestic ones, it is likely to lose its domestic market share to other mills.