Chinese steel export dropped by 54.99% in Q1

It is said that Chinese steel export's decline expanded the first quarter of 2009 from last quarter of 2008, the Total steel export by 54.99% with the same period of 2008, and Mar. became the net-import month since 2006.

It is believed that sharply contracting demand and weak competitive power are the major reasons for the plummet.

As well as the slowing steps of steel, export of non ferrous metals also shrunk, such as copper, lead, zinc and aluminum, down over 70% in export.

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