Faced with U.S. tariff pressures, China’s steel and aluminum exports increased in April this year
Date：2018-05-14 04:54:56 Visit：1240
The data released by China’s General Administration of Customs on the 8th showed that China’s exports of steel and aluminum all increased significantly in April this year. Among them, aluminum products exported 451,000 tons, an increase of 4.9% year-on-year, an increase of 0.2% from the previous period; exports of steel products were 6.48 million tons, which was the same as the same period of last year, a significant increase of 14.7% from the previous month, and the highest level since August last year. According to the report, this shows that the United States' application of tariffs has not affected the overseas sales of Chinese steel and aluminum products. The United States has imposed tariffs of 25% and 10% on imports of steel and aluminum products since March 23. However, analysts said that the impact of U.S. tariffs on aluminum products was offset by U.S. sanctions against U.S. Alcoa’s joint ventures, which led to a surge in aluminum prices in the international market and boosted Chinese companies’ overseas sales growth.
UBS analyst Lachan Shaw said that the export of aluminum products continues, indicating that U.S. tariffs have not materially affected the trade of this product. Some U.S. manufacturers pay customs duties in order to ensure the required imports, so at present, the trade in aluminum products has not been significantly affected.
UBS analyst Lachan Shaw said that the export of aluminum products continues, indicating that U.S. tariffs have not materially affected the trade of this product. Some U.S. manufacturers pay customs duties in order to ensure the required imports, so at present, the trade in aluminum products has not been significantly affected.
