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China steel exports seen surging to seven-year high as home demand wilts | Hellenic Shipping News Worldwide

China steel exports seen surging to seven-year high as home demand wilts | Hellenic Shipping News Worldwide
hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.

China steel exports seen surging to seven-year high as home demand wilts

China is set to export the most steel this year since 2016, say analysts, as the weakening yuan and competitive prices help the world's biggest producer offload surplus metal due to weak demand at home. China's massive steel industry has been hard hit by a months-long slump in the country's huge property sector, pushing steel prices to three-year lows in May. Steel exports in the first five months were up 41% compared to a year ago, customs data showed, and traders said they have recently seen improved overseas buying appetite.

China Steel Exports Seen Surging to Seven-Year High as Home Demand Wilts

China Steel Exports Seen Surging to Seven-Year High as Home Demand Wilts
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