China's steel product exports hit 3.58 million tonnes in July, up 133.8 percent from a year earlier, but down 19.1 percent from record exports in June, an industry information provider said on Wednesday, citing official Customs figures.
Steel product exports in the first seven months of the year reached 20.67 million tonnes, up 57.7 percent, and bringing the country's net steel product exports to 9.73 million tonnes for the period, Mysteel said on its Web site (www.mysteel.com).
China's net exports of steel products reached 2.05 million tonnes in July, according to the report.
July exports slowed compared with June, but analysts still expect Chinese exports to remain strong in coming months because of lower Chinese prices. "Strong exports would benefit the domestic market and help move surplus steel to the world market," said Ma Zhongpu, an analyst at Beijing Lange Steel Information Consultant Co Ltd.
China imported 1.53 million tonnes of steel products in July, a drop of 28.1 percent from a year earlier. Imports in the first seven months of the year reached 10.94 million tonnes, down 28.7 percent on the year, according to the report.
China exported 830,000 tonnes of semi-finished steel in July, a rise of 29.6 percent, it said. Customs has not yet released the data.
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