China's steel exports rose 24.7 percent year on year in the first five months of 2024 to 44.7 million tonnes, customs data showed. In May alone, mills shipped 9.63 million tonnes of steel abroad, up 4.4 percent from April, as weak domestic demand continued to push surplus steel onto world markets. Export values, however, fell 11.5 percent over the five months as falling international prices squeezed revenues. Steel imports into China dropped 2.7 percent to 3.04 million tonnes in the same period. The export surge was the main outlet for an industry producing far more steel than the domestic market could absorb, with apparent steel consumption down nearly 5 percent in the first five months of the year. Trade partners were increasingly pushing back, with several countries opening anti-dumping investigations into Chinese steel during the year.
Source: SEAISI (GMK Center) — https://www.seaisi.org/details/24836?type=news-rooms
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