China's steel exports jumped 32.6 percent year on year in the first two months of 2024 to 15.91 million tonnes, customs data published in early March showed. The surge extended the export boom that began in 2023, when shipments rose 36.2 percent to 90.3 million tonnes, as weak domestic demand pushed mills to sell more steel abroad. The average export price in January-February was 791.7 dollars a tonne. Steel imports into China fell 8.1 percent over the same period to 1.13 million tonnes. The strong start to the year put exports on course for another year above 100 million tonnes, even as trade partners began to complain about low-priced Chinese steel and to consider new trade barriers. Domestic crude steel output in January-February rose 1.6 percent to about 168 million tonnes, outpacing consumption, which fell about 1.3 percent.
Source: SEAISI (GMK Center, CISA data) — https://www.seaisi.org/details/24353?type=news-rooms
Photo: Wikimedia Commons (freely licensed).