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Analysis of China Steel Industry Export Development Prospects

2020-01-18 14:45:32
China has always been a major exporter of international steel products. Our main export products are: corten steel, wear resistant steel, boiler steel, high strength steel, hot rolled plates, etc. The steel industry is one of the country's important raw material industries and one of the basic industries of all industrialized countries.

As a large steel exporting country, China's export trade, while alleviating the problem of excess domestic production capacity, has also provided raw materials for the production and processing of countries around the world, realizing the complementary advantages of the steel industry in each country.
China steel exports in December 2019 were 4.684 million tons, and the annual export volume was 64.293 million tons, a decrease of 7.3% from the 69.335 million tons in 2018.
In 2020, the global economy is expected to pick up slightly. Many agencies predict that the level of global economic growth will pick up in 2020. According to the IMF's forecast, the global economy will grow by 3.6% in 2020, significantly higher than 3% in 2019.
At present, the signs of global economic stabilization and recovery are becoming increasingly apparent, and the market is gradually optimistic about the international trade situation in 2020. The warming of external demand will have a driving effect on China's steel exports.