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PrintChina's steelworks now are complaining that they only received halved export orders for the fourth quarter due to the weakening demand caused by global financial crisis and wait-and-see attitude of foreign buyers, said Luo Bingsheng, vicechairman of the China Iron and Steel Association (CISA).
The export volume of China's steel products would obviously decline from the fourth quarter of this year to the first quarter in 2009, Luo added.
In January-September period, the net export volume of crude steel (converted from the steel products) reached 39.469 million tons, decreasing 5.18 million tons or 11.61 percent from the same period of last year.
In the first nine months, China's steel export to South Korea increased by 38.09 percent to 11.9512 million tons, the export to Southeast Asia areas went up by 3.82 percent to 7.8645 million tons, and the export to the U. S. inched up by 0.57 percent to 3.4725 million tons.
But in the same period, China's steel export to 25 countries of European Union decreased by 29.83 percent to 6.3659 million tons, and the combined export to Arroba, Sandbox, and Iran dipped 20.08 percent to 4.3181 million tons.
As South Korea got orders for 40 ships cancelled in September, China's export of ship plates to the country will fall, Luo believed.
For some China-made steel products, like coated sheet, large shaped steel, and medium plate, which they have about 30-70 percent of the output for export, the drop in export would divert the resource to domestic market, giving a blow to the domestic market, said Luo.
Of total steel export of 48.4609 million tons in Jan.-Sept., coated sheets accounted for 1.8601 million tons, making up 70.24 percent of the national output; large shaped steel accounted for 2.4812 million tons, taking up 33.48 percent of the national output, according to the statistics of CISA.
To cope with the negative effects brought by global financial crisis, a feasible way for China's steelworks seems to control the total quantity of output, restrict output or transform to produce other well-selling steel products, said Luo.
Editor: Ivy
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