in May steel exports rebound success(6/13/2010)

May China's steel exports 4.94 million tons, to revitalize the highest level of the financial crisis, the growing domestic and export expansion spread is the main reason for the situation in the stock high, the exports are still the primary means of alleviating the pressure.

The Main customs administration data demonstrated that in May, 2010 China the export steel 4,940,000 tons, compares in April increases 630,000 tons, grows 265.93% compared to the same period; In May the China import steel 1,360,000 tons, compare in April reduce 140,000 tons, reduces 18.79% compared to the same period. The export steel 1,796 ten thousand tons Chinese January to May accumulation, increases 127.3% compared to the same period; The accumulation import steel 6,970,000 tons, increase 7.2% compared to the same period. Moreover, in May exports the billet to import the billet 20,000 tons, compares in April reduces 40,000 tons; Exports the billet 50,000 tons January to May accumulation, the accumulation import billet 240,000 tons, drops 89.7% compared to the same period.

Exports continue to rise, to revitalize its highest level since the financial crisis. Recent domestic steel prices continued to fall nearly 20%, while the international market remains high, spreads continued to expand the export recovery of the main reasons.
(by China Leiyuan, 6/13/2010)