October 23, 2024 10:44 GMT
MNI BRIEF: China Steel Exports To Remain High In October
MNI (BEIJING) - China’s steel export volumes in October will decrease from September’s 10.1 million tonnes, the highest monthly volume since 2016, but maintain a high year-on-year growth rate, according to analysts at Shanghai Metals Market on Wednesday.
However, trading partners are expected to impose anti-dumping measures and lower demand in November and December, analysts added.
Chinese steel prices in Q4 are expected to increase 10% q/q on average as manufacturing demand picks up but further data and more certainty on fiscal support is needed to ensure a sustainable rebound, local analysts told recently MNI. (See MNI:Limited Scope For China Q4 Steel Demand Recovery)
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