Global Economic Analysis and News of Note: Chinese Steel Exports Fall
- American Metal Market (AMM, subscription required) noted that major steel mills in China increased their daily crude steel output by one percent in late April, according to the China Iron and Steel Association.
- AMM also announced last week that China’s finished steel exports fell 28.5 percent between April 2016 and April 2017, and 14.2 percent from March 2017 to April 2016.
- Germany’s trade surplus narrowed slightly to EUR 25.4 billion in March 2017 from EUR 25.8 billion in March 2016. Exports rose 10.8 percent to a record EUR 118.2 billion and imports increased 14.7 percent to an all-time high of EUR 92.9 billion.
- According to the country’s Federal Statistics Office, factory orders in Germany increased one percent in March after climbing 3.5 percent in February. The number of domestic orders fell 3.8 percent while foreign orders increased 4.8 percent.