Since this year, China’s steel exports momentum is relatively strong. General Administration of Customs statistics show that the national steel exports in the first half of the year increased 30.2% year on year, the realization of the fall to rise. After entering the third quarter, although the relevant authorities adjusted export tariffs, but the national steel exports continue to speed up, including July steel exports up 35.6% year on year, August exports up 37.4% year on year, much more than the average export growth in the first half of the year. From January to August this year, the country’s steel exports amounted to 48.1 million tons, up 31.6% year on year. It is expected that in the last few months of this year, steel exports are still many. The annual steel exports are about 70 million tons of crude steel, an increase of 30% over the previous year.
Chinese steel exports (excluding indirect exports, the same below) have always been an important part of China’s total steel demand, estimated to account for more than 6 per cent this year. This year, China’s steel exports are strong, driving its total demand continues to grow vigorously. China’s total crude steel demand for the year (including direct exports) is expected to be close to 1.1 billion tons, another record high.