China’s October steel exports accelerate

China’s steel exports in October rose by 5.2pc from September to 4.04mn t as Chinese mills shifted supplies to overseas markets with falling domestic prices.

 But the October exports fell by 15.5pc from a year earlier, according to preliminary customs data. January-October exports fell by 19.3pc from a year earlier to 44.43mn t.

 Most October steel exports shipments were spot orders taken in late August and September when Chinese domestic steel prices were on a downwards trend.

 A recovery in global steel demand lifted prices in other major steel exporting countries over this period of a downtrend in China.

 China is still unlikely to catch up with the steel export levels last year even with the recent rebound in shipments. A key east China exporter expects Chinese steel exports to fall by at least 10mn t to around 50mn t this year.

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

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