Wed, 25 Jul 2012 07:27:35 GMT
Increased Chinese Steel Exports Pressure U.S. Sales
China, world's major steel producer, has raised its steel exports to the two-year high. Monthly shipments advanced to 8.7% from domestic output in June, while domestic market shows slight slowdown in prices. Chinese exports increase has direct negative impact on U.S. steel sales, for instance, Bloomberg Global Steel Producers index dropped 17%.