Export, Metals Market

International Internet Magazine. Baltic States news & analyticsThursday, 02.09.2010, 22:28

Chinese steel exports will remain weak in some term

Irina Alenina, BC, Riga, 13.04.2009.Print version
It is reported, that China's steel export dropped sharply in the past few months. Insiders believe that China is very likely to become a steel net import country in March.

0904013_Steel_81122.jpg

By the moment, the traders from both home and abroad aren't brave enough to make sanctions; the market is hovered with the heavy wait-and-see attitude.


"The market is becoming more difficult, steel price in mainland is now losing their competitiveness, and we have turn to Russia, Turkey and Middle East for resources", a Taiwan based construction trader said.


"We don't think the higher tax rebate would stimulate the export evidently, as the market is soft and international price is low at the moment", a trader in Shanghai said.

 

Currently, the export price of Turkey produced rebar posted at USD 445 per tone FOB that of Middle East and Russia stood at USD 420 per tone and USD 375 per tone FOB respectively. While in China, market sees few offers and traders hold no optimism for the market to turn over in the near future.


The scrap steel also traps the same situation, a Shenzhen based traders said: “We make almost no transaction now, as the domestic price is higher than that of the international market. General they make the purchases in China and ship to South East Asia”.

Sourced from: Metall Market




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