China Nov steel exports down 36 pct on mth

China exported 2.95 million tonnes of steel products in November, a decrease of 36% from a month earlier, or 1.67 million tonnes, according to the latest data from the  General Administration of Customs.



The export volume of steel billets amounted to 30,000 tons in November, 80,000 tons fewer than October.



In the first eleven months of this year, China's steel products exports totaled 56.06 million tons, down 3.2 percent on year, and the steel billets exports, 1.27 million tons, down 79.8 percent.



Meanwhile, China's steel products import in November dropped 15 percent on year to 1.03 million tons, and iron ores import totaled 32.52 million tons, down 8.3 percent on year yet 1.9 million tons more than the previous month.



Some analyst also forecast that the steel products export in December might keep around the level of November.



Steel exports will decrease by large margins in 2009 on shrinking international demand, said Qi Xiangdong, vice secretary general of China Iron and Steel Association (CISA), adding domestic market could be impacted severely.

 

China cancelled the export duties on 67 steel products as from December 1, owing to the weakening domestic market and changes in the international market.



 

(Source:en.sxcoal.com)