China’s exports remain low: Custom Dept

China’s exports remain low: Custom Dept
21 August 2009

The sluggish overseas cement market led to decreased cement exports from China during this year’s first half, and the industry has begun suffering from overcapacity, according to a report released by the General Administration of Customs recently.
The report shows that in the first half of 2009, China exported 8.23Mt of cement worth US$370m, falling 43.2 per cent and 36.1 per cent, respectively. The average price stood at US$44.4 per ton, up 12.4 per cent.
China’s cement exports are characterised by low monthly exports and diminishing average prices after having shot up to a high level in May.
In June, the amount of cement exports was 1.60Mt, slipping 4.4 per cent YoY but 29.1 per cent more than that of May. Meanwhile, after the monthly average price approached a high level in May, it fell to US$44.5 in June, a 2.8 per cent year on year rise but a 14.8 per cent monthly fall.
Customs said that weak demand by foreign markets was the main reason for decreased cement exports. Although domestic demand for cement increased rapidly with the government’s stimulus package and cement prices dropped across the country, Customs attributed it to the industry’s overcapacity.
Source: Asia Pulse
Published under Cement News