September 07, 2008

Valin Steel to export 2.3 million tonnes of steel in 2007

It is reported that Hunan Valin Iron and Steel Group Co Ltd expected to export 2.2 to 2.3 million tonnes of steel in 2007 up by 24% YoY from 1.78 million tonnes in 2006. Its exports would achieve sales revenue of CNY 45.5 billion to CNY 46 billion in 2007 up by about 10 billion over 2006.

Mr Li Xiaowei chairman of Hunan Valin during an interview said that “Chinese government will continue to control steel exports, which will exert greater influence on low end products. However, higher prices of high value added materials in the international market than those in the domestic market might have offset the aftereffect from the higher export duty.”