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"The influence caused by European debt crisis couldn't be any worse." From Mr. Chen Hong, the general manager of Portland Steel, Shanghai office. Some foreign steel plant offer much more lower quotation that makes our business tougher.
Portland steel corporation had run export business in China for years, however, with the changing international status, they didn't aim Asian market. It seems like an unwise action but in actual, there are not many options available.
According to Mr. Chen, Asian market is shared by several domestic large steel plants, they control the export price at a low level that make other trade companies completely uncompetitive, sometimes export price even lower than domestic price, so European market is the only option.
Many foreign trade companies choose European market in stead off Asian to free from the competition with domestic large enterprises, but Euro market is also full of difficulties, besides Portland Steel, many steel trade enterprises were influenced by the Euro "freezing status".
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