Amid sluggish domestic demand in China, Chinese mills are making efforts to sell material overseas.
According to the latest data release by Chinese Customs on Tuesday, China’s total finished steel exprt stood at 71.87 MT from Jan-Aug’15, an increase of 26.5% in the same period last year.
China, in order to push more steel overseas as its domestic demand weakens, is taking various steps by way of depreciation of their own currency (Yuan) last month.
In Aug’15, China’s finished steel export stood at 9.7 MT as compared to 7.8 MT in the same month a year ago, an increase of 24.4%. However, M-o-M export volumes were almost flat in Aug’15 as compared to July’15.
Chinese Rebar and Wire Rod Offers
| Particular | USD/MT | M-o-M Change |
| Wire Rod export (FOB main port) | 302 | – 22 |
| Rebar export (FOB main port) | 285 | – 40 |
Prices as on 8 Sep’15
Source: SteelMint Research
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