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| Chinese steel import applications to Europe stay high in October - 20 Nov, 2008 | ||
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Platts reported that applications made in October for imports of Chinese steel products into the EU covered 1.18 million tonnes of material, the highest monthly volume applied for since August 2007. Total October applications from all origins covered 2.86 million tonnes, increasing 3.85% compared with September. China remains the largest applicant for imports of steel products into Europe, accounting for 41% of total volumes applied for. Russia comes next with 8.7% of applications. The volume of imports applied for by China in October represented a 23% increase on September's volume and a 19% increase compared with October 2007. 1. Chinese October applications for hot rolled coil trade into the EU covered 377,000 tonnes a 10% increase on September and a 141% jump. 2. HRC applications from Russia were for 92,000 tonnes, a marginal increase on September's 89,000 tonnes. Egypt was the third-largest applicant for HRC licenses, covering 70,000 tonnes of the product, while India's HRC license application dropped to 47,000 tonnes from 72,000 tonnes MoM. Total HRC EU import license applications reached 745,000 tonnes down from 772,000 tonnes in September. 3. Cold-rolled coil license applications were down pretty much across the board. China's CRC applications covered 115,000 tonnes down 6.5% on September but 62% up YoY. Russia was the second largest applicant, with 35,000 tonnes from 44,000 tonnes in September. Total CRC applications covered 197,000 tonnes down from 228,000 tonnes in September. 4. Total EU import license applications for plate from all origins, meanwhile, increased 50% between September and October to 244,000 tonnes, returning to a level commonly seen throughout 2008. Chinese suppliers filed 55% of these applications, covering 135,000 tonnes of potential plate imports. 5. Ukraine was the second largest applicant with 30,000 tonnes, while Indonesia came third, having applied to import 24,000 tonnes into the EU. 6. Turkish applications to export rebar to Europe covered 48,000 tonnes, dropping 30% compared with September and down by 53% compared with October 2007. A representative from European steelmakers association Eurofer has told Platts import license applications are usually approved and therefore provide an accurate picture of granted licenses. | ||
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