China's HRC exports reached 1.55 million tonnes in July, lower by 0.5% on month but higher by 49.4% on year, according to data released by China's General Administration of Customs (GACC).
Market analysts point to weakening overseas steel consumption among the reasons for this decline. In addition, they state that steel demand among foreign buyers will continue to decline in the second half of the year and China's HRC exports will be adversely affected.
Another reason was stated as the narrowing of the price difference between Chinese origin HRC and foreign competitors' HRC.
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