June 2009 | Steel Tracker
Advances and retreats: Long Product Analysis-China, Japan, other Asia
China's big infrastructure programmes absorb increasing tonnages of long products.
China has recently run into deficit in its overall steel trade. During the first quarter it was still in surplus in most of its long products. However, last year’s substantial surplus in wire rod was turned around into a small deficit, and surpluses in the rest of the products were dramatically reduced. As the chart shows, while the beams and sections account was still in surplus, the change was almost as striking as that for wire rod, and there was a setback for rebars as well. The change was essentially due to the fall in international demand, although as far as China’s steelmakers were concerned it was a matter of prices; too...
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