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Steel exports down 62% in Feb

By Jiang Wei (chinadaily.com.cn)
Updated: 2009-03-11 11:44

皇冠体育app's steel exports reached 1.56 million tons in February, down 62 percent from a year ago, 皇冠体育app Securities Journal reported.

Related readings:  Analyst: 皇冠体育app's steel exports to decline by a quarter  皇冠体育app's steel exports drop 5.5% in 2008  Steel industry denies rumor of export tax rise

The figure marks a drop of 18 percent from January and is the lowest in 52 months.

The newspaper said 皇冠体育app's steel imports stood at 1.09 million tons in February, down 14.7 percent year-on-year, citing anonymous sources.

The newspaper also cited anonymous sources as saying that the 皇冠体育app Iron and Steel Association is asking the government to increase tax rebate rates on steel exports. It expects to increase the tax rebates on certain products from 5 percent to 17 percent.