In June, China's Steel Exports Fell For The First Time

China exported over 7.5 million tons of steel products in June 2023, down 0.7% year over year, according to data made public by the General Administration of Customs of China. For the first time, China's steel exports showed a decrease after 13 consecutive months of growth.

Global manufacturing has decreased, which has impacted external demand. High inflation, continuous geopolitical crises, unstable financial markets, and trade obstacles have all contributed to this downturn.

The advantage margin of China's steel export pricing is currently also decreasing. There is still a chance for increase year over year, despite the fall in the steel export base in the second part of last year.