China steel export is expected to remain downward trend in 2009

Published: 27 May 2009 01:38:42 PST

May 27 MetalBiz--China's steel exports is predicted to stay declining in 2009, with annual export volume no more than 25mln tons, according to a senior researcher from the National Development and Reform Commission (NDRC).

He expected at the Ferro-Alloys Conference that Chinese exports would decrease in the near future.

He also discolsed that China's steel exports will probably touch the lowest point in Q3, but it is still possible for steel prices to rebound in H2.

China has spent the most part of its economic stimulus package on steel-consuming industries such as building industry and auto industry.

Steel futures prices should be employed as a reference for iron ore price negotiation. But steel futures are still in a weak position in China and have a very limited influence on the market.