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Chinese steel export boom to continue on delayed rebate removal
30/09/2008 12:00
It is reported that steel exports in Guangdong rose by 20.4% YoY to 294,000 tonnes in August and average prices beat an all time high with a 47.1% hike to USD 1137 per tonne. What is worth attention is that steel products exported to ASEAN and EU are almost doubled.
The export big growth may well be explained by the still wide price gap between the global and home markets and also the strong expectation of export tax rebate for some varieties in days to come. This enthusiasm will remain and the steel export market will keep robust in near future, according to the source from the customs.
There are some concerns from the customs that China is likely to suffer increasing trade frictions when experiencing a slower home demand and growing export passion. Apart from the America's levy of anti-subsidy duty of standard steel tube from China in the near past, EU, Russia, Ukraine and Mexico have already asked for anti-dumping and anti-subsidy investigation against Chinese steel products.
The export big growth may well be explained by the still wide price gap between the global and home markets and also the strong expectation of export tax rebate for some varieties in days to come. This enthusiasm will remain and the steel export market will keep robust in near future, according to the source from the customs.
There are some concerns from the customs that China is likely to suffer increasing trade frictions when experiencing a slower home demand and growing export passion. Apart from the America's levy of anti-subsidy duty of standard steel tube from China in the near past, EU, Russia, Ukraine and Mexico have already asked for anti-dumping and anti-subsidy investigation against Chinese steel products.
Guangzhou Daily
September 27, 2008
Source: steelguru.com
September 27, 2008
Source: steelguru.com
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