China’s Steel Exports Set to Contract for First Year Since 2009
- Producers sending more to domestic market as demand climbs
- Rebar prices have risen almost 90% this year on stimulus
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China’s steel exports are poised to shrink for the first year since 2009, defying earlier forecasts, as mills in the world’s biggest producer sell more at home amid a surge in prices.
Outbound shipments fell 1 percent to 100.7 million metric tons in the first 11 months, customs data showed Thursday. That means there’s little chance of exports catching last year’s record 112.4 million tons in the full 12 months. Sales in November slumped 15 percent to 8.1 million tons from a year earlier.