Friday May 16, 03:56 AM
China steel exports sustained by Asian demand; EU, US sales fall - association
BEIJING (XFN-ASIA) - Robust steel exports to Asian markets are making up for declining sales to the US and the EU, according to Qi Xiangdong, vice-general secretary of the China Iron and Steel Association.
Speaking at an industry conference, Qi said that while first-quarter exports to the US and the EU fell by 28 pct and 47 pct respectively year on year, sales to China's top two regional markets, South Korea and Vietnam, were up 20 pct and 82 pct.
He said first quarter steel product output rose 12.2 pct year-on-year to 140.9 mln tons, with 11.4 pct exported.
Over the first three months, exports fell nearly 20 pct year on year, a trend he said would continue amid stronger macroeconomic controls from the central government, the slowdown in western markets and stronger domestic steel demand.
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