China's steel exports fell 5.5 percent year-on-year in 2008 to 59.23 million tons, however, the export value increased 43.8 percent year-on-year to $63.44 billion, the China's General Administration of Customs said Wednesday.
Customs statistics show that monthly steel exports declined sharply after August when they reached a peak of 7.68 million tons. The figure had fallen to 2.95 million tons in November but improved to 3.17 million tons in December.
China's steel exports are still facing the challenge of a fall in new orders with global demand likely to shrink by over 10 percent this year. In addition some countries may impose trade protection measures against Chinese steel products; the appreciation of renminbi weakens the competitiveness of Chinese products; and domestic competition in the steel sector is intensifying due to overcapacity.
Source: RedNet
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