Report: Rising Domestic Demand Kept a Lid on China's February Exports
03/08/2017 - China’s steel exports dived to a three-year low in February as its steel producers diverted output from foreign to domestic markets on account of rising demand at home, reports the Reuters news service.
According to Reuters, shipments fell to 5.75 million metric tons last month, a decline of 29.1% from February 2016.
"We understand that strong prices in the domestic market have lured mills to reduce shipment overseas but we didn't expect they would cut exports so much," Zhao Chaoyue, an analyst with Merchant Futures in Shenzhen, told the news service.
Reuters has the full story here.
