China’s steel exports now outstrip demand in any other country

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China’s steel exports rose by a fifth in 2015 to an amount big enough to feed demand in Germany and Japan for a year and leave almost 9 million metric tons to spare.

[Bloomberg News| January, 13 2016 | MineWeb ]

Outbound shipments of the material used in everything from buildings to ships surged almost 20% to a record 112.4 million tons, according to customs data on Wednesday. Ballooning Chinese exports, spurred by a contraction in domestic demand, have helped push down global prices, hurt producers and triggered trade action worldwide.

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