Persistent concerns over the possibility of export duties being imposed on steel, rising freight rates and port congestion continued to dent the appeal of Chinese material in the international market, sources told Fastmarkets on Tuesday September 7.
“The congestion across Chinese ports is not showing any signs of easing,” a Hangzhou-based trader said last Friday September 3. Vessels still have to wait for 2-3 weeks before they can berth, sources told Fastmarkets on Tuesday.
The specter of export duties for steel
also remains even though the latest official data points to a decline in exports of Chinese finished steel.
China exported 5.05 million tonnes of finished steel in August, down by 10.9% from a month earlier, according to the latest Chinese customs data released on Tuesday. This is the lowest that exports have been...