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Chinese finished steel exports down 19% in July [UPDATE]
August 10, 2010 - 06:58 GMT
Location:
Shanghai
KEYWORDS:
china
,
steel
,
export
,
import
,
semis
,
July
China's steel exports fever has allayed in July after rising for four consecutive months.
Finished steel exports dropped 19% from June to 4.55 million tonnes in July, still 151% higher year-on-year, according to preliminary customs figures.
The government removed export tax rebates on many steel products from July 15.
"Chinese exports of finished steel surged past 5 million tonnes in June just because mills rushed to export material before tax rebates were tightened in July. So it is quite natural to see a decline now,"...
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Euromoney Institutional Investor PLC.
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