With the trade disputes on steel products rising between China and the US, Canada, Australia as well as some Southeast Asian countries, China's steel export is expected to meet more challenges later this year.
The country's monthly steel export so far in 2013 has been kept at the highest level since the outbreak of the global financial crisis, which has not been easy given the weak overseas demands, but the average price has been substantially axed. It will be much harder for local players to maintain their exporting momentum without losing money for the rest parts of the year.
The domestic markets for steel products have been de-stocking since March as a result of reviving real demand, but stocks are still standing at the highest level compared with the same period in previous years. This factor alone driven prices down.
Source: China Metals e-mail chinametal@xinhua.org
