China's steel exports rise 38 percent in January

According to the assessment of the Iron and Steel Industry Association of China, the growth of exports of steel and rolled metal products in January 2014 was 38 percent

Export of steel and metal products from China in January 2014 amounted to 6 million 770 thousand tons, which is 37.6 percent more than 5 million 370 thousand tons in January last year. This is evidenced by the operational data of the China Iron and Steel Industry Association CISA.

Export prices for metal products made in China at the beginning of this year decreased by 3 percent compared to the same period, CISA representatives emphasize.
Steel imports to China also increased by 11.57 percent and amounted to 1 million 530 thousand tons in January 2014.

CISA said that 2014 will be marked by stabilization of the domestic finished steel market. Demand is expected to rise from the automotive, shipbuilding and construction industries.

Domestic demand for steel from the construction sector in China will grow in 2014 by 5 percent to 443 million tons, in mechanical engineering - by 4 percent to 127 million tons. On the part of shipbuilders, the consumption of rolled metal is expected to grow by 7 percent from last year's volume to 17.9 million tons, from the part of manufacturers of household appliances - by 4 percent - to 12.4 million tons.