Friday, 18 Feb 2011
It is reported that though the latest statistics showed Chinese steel export turned better in January, the resistance is increasing, for instance, frequent friction on Chinese steel from overseas market, overseas demand tends to weak and weak competitiveness of Chinese products.
Report from CISA showed the export environment in 2011 is not optimistic, with export for Korea, India and ASEAN taking up 48.2% of total export volume. Korea increased steel capacity by 15 million tonnes and estimating to cut import from China.
The latest analysis report from China Customs pointed out that international demand for steel may remain sluggish due to slow pace of European and American recovery. Data issued by US Department of Commerce showed the importing volume of America in 2010 once kept decreasing for consecutive three months.
Furthermore, trade barriers from overseas market came one after another, causing heavier obstacles on Chinese steel export. A US trade panel on February 7th approved combined final duties ranging up to nearly 450% on steel drill pipe from China used in oil production.
Customs report also listed other trade remedy cases on Chinese steel products, for instance, Russia on November 23rd 2010 decided to impose 29.9% to 39.1% anti dumping duties on Ni containing stainless steel, earlier in Sep. Chinese steel products suffered trade remedy investigations from Canada and EU. (sourced:mysteel.net)
Tags:Chinese steel export, facing difficulty,CISA, Korea, India, ASEAN, European, American, US Department of Commerce,Canada, EU,steelmills
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