Chinese suppliers drive metallurgical companies from the CIS states out of Middle Eastern market
Edited by Rhod Mackenzie / 2014-10-13 04:03:07
China Metals and mining Russia Ukraine China Metals and Mining Russia Metals and Mining Ukraine Metals and Mining Steel
Russian steelmakers haven’t had time to take advantage, connected with the sharp decline in Ukrainian steel exports to foreign markets and were replaced by Chinese companies.
The reduction of the Ukrainian export due to stopping of the Alchevsk, Yenakievo and Makeevsky metallurgical plants, suffered because of fire and destruction of the railway network, in August, has opened the way for the Chinese to the Middle East, where before their billets were not in demand.
As a result of this expansion, the prices in the region fell by $20 - 40 per ton, which didn’t prevent the Chinese producers to increase the supplies, as the price of a ton of steel fell to 5-year minimum on the domestic market.
