China's steel exports may continue to pick up

Posted:2020-11-13 10:52:03

The impact of the epidemic on the global economy is gradually weakening. The global steel production and sales are active, and the export orders of China's steel industry have improved significantly. The export tax rebate is expected to enhance the enthusiasm of iron and steel enterprises to export. It is expected that steel exports will continue to rise in the future.

However, the aggravation of the epidemic situation in Europe and the United States may affect market supply and demand. After entering November, China's steel export quotation rose slightly, and the RMB continued to strengthen, which made overseas traders have a heavy wait-and-see attitude towards China's steel resources, and there is still some uncertainty in steel export.

In terms of import, with the recovery of domestic demand, some overseas iron and steel enterprises began to reduce export quota. The price advantage of imported steel gradually lost due to the rise of international steel market price. The impact on domestic market will gradually weaken, and the probability of steel import volume will continue to decrease month on month.

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