China steel exports fall as deflation risk mounts

Dec 10, 2008 | 08:40 AM | Kevin Foster

More evidence emerged Wednesday of an abrupt slowdown in the Chinese economy, as steel exports fell sharply and a range of other economic indicators pointed to a rising risk of a hard landing for what has been the world's fastest-growing major economy.

Chinese net steel exports fell to 1.94 million tonnes in November, down about 46 percent from 3.6 million tonnes the previous month, according to Michelle Applebaum, managing director of Michelle Applebaum Research Inc., Chicago.

Gross exports of finished steel fell 36 percent last month, while semi-finished steel exports were down 73 percent, she said, citing figures from Chinese Web site

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