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Tianjin, a major trade port in north China, nearly doubled its year-earlier foreign sales of steels in the first 11 months of last year, according to local customs officials.
The sources said that from January to November, the port sold 2.61 million tons of rolled steel abroad for US$1.57 billion, up 93 percent and 130 percent respectively year-on-year. The exports were 823,000 tons more than the imports via the port for the same 11-month period, the officials said.
The United States, the Republic of Korea and the European Union remained the top three target markets of steel exports from Tianjian, the officials added.
Local customs officials attributed the dramatic growth in steel exports to rapid expansion of domestic production and rising demand abroad.
Meanwhile, at the beginning of 2004, the United States terminated its Section 201 measures for steel trade protection. As a result, Tianjin port's steel exports to the United States soared by 130 percent in the first 11 months of last year from the year-earlier level, the customs officials said.
(Xinhua News Agency January 6, 2005)
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