In the face of US tariff pressure, domestic steel and aluminum exports increased in April this year.
2018-05-25
According to data released by the General Administration of Customs on the 8th, domestic steel and aluminum exports increased significantly in April this year. Among them, the export of aluminum products was 451000 tons, a year-on-year increase of 4.9 percent, an increase of 0.2 percent; the export of steel products was 6.48 million tons, the same as the same period last year, an increase of 14.7 percent, a higher level since August last year. According to the report, this shows that the imposition of tariffs by the United States has not affected the overseas sales of domestic steel and aluminum products. The United States has imposed tariffs of 25% and 10% on imported steel and aluminum products respectively since March 23. However, analysts said that the impact of US tariffs on aluminum products was offset by US sanctions on Rusal United, which led to a surge in aluminum prices in the international market and promoted the growth of domestic companies' overseas sales.
UBS analysts said LachanShaw that the export of aluminum products is still continuing, which shows that the US tariffs have not had a material impact on the trade of this product. Some U.S. manufacturers pay tariffs to ensure the required imports, so trade in aluminum products has not been significantly affected at present.
Previous Page:
Next page:
Recommended News