Steel prices have remained up for 5 weeks in Chinese market, which is resulted in decreased competency in world market.

China now is facing much more pressures especially from Russian Federation. Since last month, China increased its HR price reversely to declining international prices, which is quoted for US$100-200/ton higher than Russian mills.

More, China’s up-trended currency and stricter trade protection policies have damaged Chinese steel export seriously. In last quarter in 2008, anti-dumping tariff were added on Chinese steels from North America, India and EU respectively. Source:Yieh.com