Steel export price of China hits record high

2017-12-19 02:44:16

(MENAFN) Improved product quality and structure have led to an increase in China's steel export price to 798.8 USD per ton in October, which is the highest level since Feb. 2014.

Within the first ten months of 2017, the average export price of steel products was 700.8 USD per ton, which is 211 USD or 43.1% higher than the same period of 2016.

Regardless of a 30.4% annual drop in steel exports to 64.49m tons in Jan-Oct period, exports income only decreased 0.3% to about 45.2b USD, which reflected improvement in the structure and the quality of steel exports.

The majority of steel business in the country performed better due to China's constant capacity-cutting efforts, which are an essential part of the ongoing supply-side structural reform.

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