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Chinese steel product exports unlikely to dive down in H2
Source: MySteel.net August 7, 2007
It is reported that though China Iron & Steel Association has recently forecasted that steel product exports is possible to show sharp YoY decline of 60% during the H2 but many insiders present at 2007 China Steel Investment Seminar thought that steel product exports are able to come back to a comparatively high level from July to December 2007 because of the strong demand in international markets.
Mr Jia Yinsong deputy director general of the
Mr Jim Jia CEO of Mysteel said that based on crude steel outputs during the H1 China is expected to produce 490 million tonnes of crude steel in 2007 up by 70 million tonnes YoY. He added that steel product exports would rebound up during the last four months and
IMF has recently upward revised its forecasts on economy growth during these two years, indicating that international demand for steel will remain prosperous. Under such circumstances, slim room is imagined for further decline on
A senior official from CISA said that steel product exports should account for some 10% of the nation's total outputs. However, the ratio surged to hit 13% during H1.