Chinese producers target increased steel exports

Shanghai: China's various steel companies are looking to increase exports of steel products in order to cash in on lucrative rates at a time when domestic shipments are under the central government's price control, reports Steel Guru. The producers are said to be particularly targeting South Korea and the Middle East and have offered discounts that bring prices down around $1,020 per tonne C&F for HR coils, $1,010 per tonne C&F for H-beams and $980 per tonne C&F for long products.

China's major steelmakers are reluctant to sell to the domestic market as the central government's commodity price control reduces profits in the face of increasing raw material costs.  [11/08/08]