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China's steel export in 2018      [2018-03-12]

China, the world’s top steelmaker, produced 831.73 million tons of crude steel last year. It aims to cut 30 million tonnes of excess steel capacity in 2018 as part of the country’s efforts to curb air pollution.

Chinese exports of steel products may continue to fall this year on the whole due to strong domestic demand and reductions in capacity due to environmental commitments. Demand from property, infrastructure, manufacturing and shipbuilding sectors will increase, while steel supply would also pick up this year compared to 2017.

Last year witnessed a 30.5 percent plunge in Chinese steel exports to 75.43 million tons, as strong domestic prices and high profits at home led to a drop in shipments abroad. On one hand, many mills have increased their production since early 2018. Most mills are enjoying profits of RMB 400-600/t ($63.2-94.8/t) which will encourage them to produce more. On the other, there’s a good stock of steel in warehouses. This may bring down the price. According to CLIK’s analysis, China’s steel export may increase after July if more production to come.