Chinese steel exports could rise in July: Jefferies

摘要

Chinese steel exports could rise over July, but winter production cuts will meaningfully reduce supply and overseas shipments into the latter part of the year, investment bank Jefferies said in a research note Monday. Finished steel exports rose to 6.9 mn t in June, up by 1pc month on month and by 2pc from June 2017, but could increase this month, aided by the weaker yuan. Exports are down by 14pc so far this year, compared with the first six months of last year, after steep falls in the first quarter, Jefferies said.