China’s steel exports fell in 2016 from a record in the previous year, dragged down by improved demand at home and Beijing’s resolve to tackle overcapacity, in a relief for steelmakers elsewhere that have been hit by cheap Chinese shipments.
China’s exports could slip further this year, analysts and industry officials say, as Beijing strengthens its supply-side reforms and overseas markets fight against being flooded with Chinese products.
China’s exports of steel products fell 3.9 percent from the previous month to 7.8 million tonnes in December, customs data showed on Friday. Full-year export volumes dropped to 108.46 million tonnes from a record 112.4 million tonnes in 2015, Reuters calculations showed.
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Craig Erlam
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