Chinese steel exports to sustain high in 4th qtr.

Nov 12, 2009 | 09:51 AM |

China's finished steel exports are expected to remain high in the fourth quarter after preliminary data showed that October's exports had set a 2009 peak.

Since August, Chinese export prices have been sliding along with domestic prices, encouraging export demand, a trader in Shanghai said.

"Most steelmakers clinched much more bookings in late August and September when Chinese domestic steel market prices were low and competitive. Most of these export contracts were for October shipment," according to another Shanghai trader.....

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