China's aluminium exports rise, steel down

Beijing

CHINA'S aluminium exports grew more than 25 per cent in the first two months of 2018, but steel exports fell by nearly a third, as the world's top producer of the two metals faces scrutiny amid US plans to impose hefty tariffs later on Thursday.

The rise in aluminium shipments suggested winter production cuts by Beijing to battle air pollution had not been as deep as expected, analysts said, depressing local prices and leaving producers with excess supplies to sell offshore.

In contrast, the fall in steel exports extended a steady decline in recent years as local demand has grown and China reins in its domestic steel capacity to curb…