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Chinese Steel Market Prices Keep Rising

Chinese Steel Market Prices Keep Rising
Issue Time:2016-03-09

China's steel prices continued to move higher amid volatility this week.The rising domestic steel prices were accompanied by the good news from the government.The central bank lowered the required reserve ratio to increase liquidity and bolster real economy.During the week,the ferrous metals futures prices were favorable and all varieties continued to rebound to a new high.As the domestic key data in March were released,the economic outlook was not as good as the current situation.

 

China exported 8.11 million tonnes of steel products in February,rising 4% year-on-year,and January-February exports stood at 17.85 million tonnes,dipping 1.3% from the same period a year ago,according to data from the General Administration of Customs.

 

 China's exports of finished steel products shrank to 8.11 million tonnes in Feb 2016,off by 16.74% or 1.63 million tonnes from 9.74 million tonnes in Jan 2016,the General Administration of Customs said in a website-posted statement on Mar 8,2016.

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