According to the statistics by Qingdao Customs, steel exports for the in January to September at Shandong port total 1.128 million tonnes valuing of USD 1.08 billion down by 74.1%YoY and 75.6%YoY respectively. Overcapacity disordering competition and international protectionism weigh heavily on China steel export.

The features of China steel export in the past three quarters are as follows

1. Exports turned to be firm with an average price fluctuation. Although the fall of steel export has been restricted since this April yet, export remained to be quite weak and the average price tumbled to the lowest of USD 779.6 per tonne in August and then only edged up to USD 867.9 per tonne in September.

2. Exports from state-owned enterprises only accumulated 0.652 million tonnes down by 76.7% or taking up 57.8% of the gross.

3. Exports to South Korean, ASEAN and EU were posted at 0.237 million tonnes, 0.143 million tonnes and 83000 tonnes down by 82.7%, 83% and 86.2% respectively.

3. Sheet and plate and steel pipe fittings were the main exported specs.

In order to ease the worsening situation, Chinese government has brought out relative policies consecutively. However, they are not workable.

(Sourced from MySteel.net)
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