China’s steel exports in January-February were heavy, and new orders increased significantly in March

Affected by the accelerated recovery of the global economy, the recovery of demand in the international steel market has accelerated, the price of overseas steel has risen, and the spread between domestic and overseas prices has widened. From November to December 2021, the export orders for steel products were well received, and the export volume recovered slightly. As a result, actual shipments in January and February 2022 increased from December last year. According to incomplete estimates, the export volume of hot-rolled coil in January and February was about 800,000-900,000 tons, about 500,000 tons of cold coil, and 1.5 million tons of galvanized steel.

Due to the impact of geopolitical conflicts, overseas supply is tight, international steel prices have risen rapidly, and domestic and overseas inquiries have increased. Some Russian steel mills have been subject to EU economic sanctions, suspending steel supplies to the EU. Severstal Steel announced on March 2 that it had officially stopped supplying steel to the European Union. EU buyers are not only actively looking for Turkish and Indian buyers but also considering China’s return to the EU market. Up to now, the actual orders received for China’s steel exports in March have peaked, but the price difference in the previous January and February has narrowed, and the actual shipment orders for exports in March are expected to decrease month-on-month. In terms of varieties, the export orders of hot-rolled coils increased sharply, followed by sheets, wire rods and cold products maintaining a normal shipment rhythm.

Post time: Jun-30-2022