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China Steel Export Is Expected to Increase after Stopping Production of Steel in Japan

Qingdaoport iron ore price index 62% down more than 2% , dropping to $168 / ton. And iron ore swap market the main contract is down 4% .In June, the main contract price is only $140 / tons. Japanseveral steel factory has influenced by the earthquakes and tsunamis. According to the latest steel damage statistics of northeasternJapan,Japan’s largest steel enterprise is already discontinued the production.

 

Before this earthquake , Japanese steel enterprise just make a agreement with a larger international iron ore giant supplier about rising the iron ore . Japanese imports of iron ore prices are rising about 25%in the first quarter of 2011 since April,  The earthquake directly affect the Japanese three steel manufactory of 26 million tons to the ERW steel pipe production, the biggest impact on steel plates and varieties of the plate, mainly for the car and the shipbuilding industry. Secondly, the variety of influence for wire, mainly used in cars and the construction industry, stainless steel, section bar and steel pipe capacity also is affected certainly. In the short term, the export of varieties of Japanese steel would be affected.China steel export prices are expected to go high. Japanese export steel was the world’s first big steel exporters for 43.4 million tons of steel in 2010, about of its yield by 45%.Its main exports to South Korea, China and elsewhere in Asia.

 Japan steel mill exports will postpone after an earthquake, which will increase the export ofChinasteel

 

 

 

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