China’s steel exports more than 100 million tons in 2015

This year, China’s steel exports reached record levels of more than 100 million tons, suggests that China relies on global sales to help digest excess capacity.

From steel to aluminum, Chinese exports of processing raw material rising, helped push commodity prices fell to their lowest level in nearly a decade, depressing global miners and steelmakers.

Its decline may even help China to further expand exports. Yesterday, the people’s bank of China (PBoC), the central parity rate down to the lowest level since 2011, leading to the RMB exchange rate to fall to their lowest level in four years.

Data show that the first 11 months of this year, China’s steel exports increased by 22%, to 101.7 million tons. Yesterday, the ministry of finance said that the billet export tariffs from 25% down to 20%.

“At present, reduce China’s steel production (1651, 7.00, 0.42%) of the speed is very slow, far short of rebalancing the required speed (domestic) or the global market,” Capital Economics (Capital Economics), an analyst at John Robert kovac said (John Kovacs).

He went on to say, in euros, the price of Chinese steel producers to provide this year has been quite attractive.

Macquarie (Macquarie) data show that China’s steel exports 50% higher than the domestic iron and steel production. The bank forecast, until the end of the decade, China’s steel exports will remain in more than 100 million tons, in the meantime the price no recovery.

Macquarie said that steel prices weakness against the manufacturer’s profit margins, the latter has fallen since the early 1990 s never levels.

The World Steel Association (World Steel Association, said Steel demand could fall by 1.7% this year.

“The global steel industry has gone bankrupt,” analyst at Macquarie in London, Colin Hamilton (Colin Hamilton) said. “This suggests that the industry restructuring process of extremely painful.”

China’s steel exports aggravate trade tensions, but analysts say the tariff alone cannot balance the market. The organisation for economic co-operation and development (OECD) steel industry committee and government officials, said after a meeting in this month must take immediate action to meet the challenges of excess capacity. They forecast that steel production capacity will continue to increase, to reach 2.4 billion tons in 2017.

The United States will be announced within 3 months and coated products for hot rolled steel coils, cold rolled steel coils of three anti-dumping cases investigation results.