China's steel exports rose 24 percent year on year in the first half of 2024 to 53.4 million tonnes, customs data published in July showed. The surge was driven by weak domestic consumption, which pushed local mills to direct surpluses to export markets, and put shipments on course to exceed 110 million tonnes for the full year, beating the record set in 2015. Crude steel production in the first half fell 1.1 percent to 530.6 million tonnes, so exports grew even as output shrank. Analysts expected full-year exports to grow by at least 27 percent, with finished steel and semi-finished products both rising sharply. The flood of low-priced Chinese steel was already drawing trade complaints around the world, with importing countries opening anti-dumping cases and weighing new barriers, while Chinese mills relied on overseas sales to offset losses at home.
Source: SEAISI (GMK Center) — https://www.seaisi.org/details/25245?type=news-rooms
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