Hunan steel exports up 34.2% in Jan-Feb

Hunan province exported 80,000 tons of steel to countries along the Belt and Road in the first two months of 2018, a year-on-year increase of 34.2 percent, Changsha Evening News reported on March 9.

It accounted for 59.8 percent of total steel exports from the Central China province in this period. The United Arab Emirates was the top export destination. 

Statistics from provincial customs revealed that Hunan exported 134,000 tons of steel products in January and February this year, recording a 27.1 percent decrease compared with the same period of last year.

The average price of these steel exports was set at 5544.5 yuan ($880) per ton, up 9.7 percent year on year.

In response to declining steel export markets, Hunan-based steel enterprises are actively shifting their policies and exploring potential channels with overseas markets by seizing opportunities brought by the Belt and Road Initiative.

Exports to countries such as Malaysia, Indonesia and Pakistan have become brighter prospects in recent times.

Apart from steel products, Hunan enterprises have also diversified their global businesses through investing in infrastructure, real estate and road traffic projects.

Containers berthed at Changsha Port, Hunan province. [Photo/icswb.com]