China Steel Industry Association show that production in the first half of the report, in early March 2009 daily average crude steel production decrease 130,000 tons. In early March this year, the national daily average crude steel production estimates for 1.378 million tons, in late February than 1.51 million tons daily output fell by 132,000 tons. This is the year of crude steel by-year calculation of average daily production of the first decline in steel prices is the result of re-production. In 2008 as a result of production, as well as the high base in the same period is expected in March 2009 year-on-year growth rate of crude steel production by 1,2 months of negative growth to positive growth.
By the deteriorate within the exchange rate as well as the impact of foreign require for domestic iron exports decline. February iron exports 1.56 million tons, down 50% year-on-year, 18 percent lower than Central. February domestic crude iron (steel billets) Net export alone approximately 200,000 tons. Export situation is grim.
According to the latest Customs statistics, China's exports in March of steel 1,670,000 tons, an increase in February than 120,000 tons, while 59.76 percent year-on-year decline, but rose 7 percent more than Central. March steel 400,000 tons of net exports, better than market expectations. Although the recent European Union and the United States wants to domestic steel products to certain anti-dumping investigation, but the export to the United States and the European Union are very few steel (total 10-20 million tons / month), anti-dumping will not cause further deterioration in exports.
The second half of 2008, in addition to Japan, the major steel exporting countries currencies against the U.S. dollar exchange rate are different degrees of devaluation of the RMB exchange rate maintained a relatively stable and the U.S. dollar, resulting in China's steel products in foreign markets, a significant cost advantage decline. As a core competitive advantage of the loss of low-cost, is the latest of the main reasons for the significant downturn in exports.
Low charges, high cost of iron alloy is the centre competitiveness of trade items, but due to exchange rate fluctuations and the cost of cancel iron alloy fallen considerably in 2008 for foreign goods is no longer a important cost distinction, making the household metal and iron alloy enterprises have lost enterprise trade items the competitiveness of the finances of iron alloy which is the major cause for the important worsening in exports.
By the deteriorate within the exchange rate as well as the impact of foreign require for domestic iron exports decline. February iron exports 1.56 million tons, down 50% year-on-year, 18 percent lower than Central. February domestic crude iron (steel billets) Net export alone approximately 200,000 tons. Export situation is grim.
According to the latest Customs statistics, China's exports in March of steel 1,670,000 tons, an increase in February than 120,000 tons, while 59.76 percent year-on-year decline, but rose 7 percent more than Central. March steel 400,000 tons of net exports, better than market expectations. Although the recent European Union and the United States wants to domestic steel products to certain anti-dumping investigation, but the export to the United States and the European Union are very few steel (total 10-20 million tons / month), anti-dumping will not cause further deterioration in exports.
The second half of 2008, in addition to Japan, the major steel exporting countries currencies against the U.S. dollar exchange rate are different degrees of devaluation of the RMB exchange rate maintained a relatively stable and the U.S. dollar, resulting in China's steel products in foreign markets, a significant cost advantage decline. As a core competitive advantage of the loss of low-cost, is the latest of the main reasons for the significant downturn in exports.
Low charges, high cost of iron alloy is the centre competitiveness of trade items, but due to exchange rate fluctuations and the cost of cancel iron alloy fallen considerably in 2008 for foreign goods is no longer a important cost distinction, making the household metal and iron alloy enterprises have lost enterprise trade items the competitiveness of the finances of iron alloy which is the major cause for the important worsening in exports.
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