China's steel exports hit 14-month high in Dec.

Jan 11, 2010 | 10:36 AM |

China's finished steel exports jumped to a 14-month high in December amid a rush of orders the previous month, when prices were on the rise.

Exports totaled 3.34 million tonnes last month, up 17 percent from November and 5.4 percent higher than a year earlier, according to preliminary Chinese Customs data, which put net steel exports at 1.86 million tonnes, the highest monthly level last year.

"Most steelmakers were highly booked at the end of October and early November, when domestic market prices were rising from low levels. Most of those export contracts were for December," a trader in eastern China said.....

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