China’s steel net exports rose 8.8% in April from a year before and 9.4% between January and April from a year ago. To the extent that China’s industrial recovery explains why iron ore and steel prices have jumped this year, China’s latest trade data served as a reminder of how brittle this reason is. Shouldn’t mills be... That raises the question: Why are mills exporting more steel when Shanghai front-month futures prices for rebar steel rocketed 48% between January and April, and signaled a potential rise in demand?

Source: Wall Street Journal May 09, 2016 02:56 UTC