According to China Customs statistics, Chinas steel exports in January 2024 and February 2024 achieved significant growth, demonstrating the competitiveness of Chinas steel industry in the global market.

In the past two months, Chinas steel exports reached 15.912 million tons, a year-on-year increase of 32.6%; in contrast, steel imports were 1.131 million tons, a decrease of 8.1%. This change reflects the price competitiveness of Chinese steel in the international market and the shifts in domestic and foreign demand.

From a global perspective, although manufacturing PMI shows some stability, the improvement in global steel demand and supply remains complex. Especially in regions such as Europe and the Americas, there is uncertainty in the manufacturing industry due to the impact of the new coronavirus. In addition, steel production varies in major countries and regions around the world, affecting international steel supply and demand relations.

Although China’s steel export prices have an advantage, the Langer Steel Research Center points out that changes in the external environment, such as the gradual recovery of global steel production capacity, and adjustments to the steel policies of countries, may affect the continued growth of China’s steel exports.

In addition, the research of the China Steel Logistics Specialist Committee and Langer Steel Network showed that the new export order index of Chinese steel enterprises has declined, reflecting changes in the international market demand for Chinese steel.Analysts said that although Chinas steel exports remained high in recent years, Chinas steel exports may face fluctuations in the short term due to the instability of international market demand and changes in domestic and foreign price differences.

In the long run, the growth of China’s steel exports will be influenced by a variety of factors, including the international trade environment, the global economic recovery process and the competitiveness of China’s steel products themselves. Chen Keqiang, chief analyst at the Lang Steel Economic Research Center, expects the driving effect of the export of mechanical and electrical products will promote the growth of indirect steel exports.