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The export of steel from China in 2014 will be a record 70 million tons
According to the British analytical bureau MEPS, the total export of steel from China in March 2014 amounted to 6,76 million tons, and in the first quarter - 17,3 million tons. If the average daily steel export is maintained, China may set an absolute record of 70 million tons of steel products sold abroad by the end of this year.
Chinese metallurgists will ship for export 8,3% of all steel produced in the country, analysts say, which will exceed the level of 2007 of the year. For clarity, MEPS reported that only three countries in the world produce each separately more steel than exports from the PRC.
British experts stressed that Chinese steel exports put significant pressure on global steel prices. Exports have also become a major factor for the rapid development of the machine-building complex in Asia, where competitive spare parts and components for western and eastern corporations are being created with the help of inexpensive Chinese metal products.