China's Steel Exports Jump to Second Highest Amid Tensions
China's steel exports climbed to the second-highest level on record in June, as shipments from the world's biggest producer ramp up amid escalating trade tensins.
Sales advanced 23 percent from a year earlier to 10.94 million metric tons. according to China's customs administration.That's only eclipsed by shipments in September last year,when the country sent 11.25 milllon tons overseas.Exports in the first six months were 57.12million tons,the seventh on-year increase in a row and the most ever for the period.
Owing to China‘s record supplies have fueled global trade tensions as to many producers compete for sales.
There's a lot of trade friction but overall Chinese steel prices are relatively low.
demand is steady,and together with teh renmibi's depreciation.the Chinese exports are very competitve.''Helen Lau,an analyst at Argonaut Securities Asia Ltd.said from Hong Kong."it's encouranging for Chinese mills and good fro overseas consumers.