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China's steel indirect export will increase significantly this year

Posted:2021-02-25 17:50:31

This year, China's indirect steel exports will increase significantly. In 2021, the global economy will also grow by 5.5% from last year's recession, and the demand for steel will recover significantly, so as to improve China's steel export environment, especially the indirect export of steel materials. For example, the export of mechanical and electrical products including household appliances will be very strong, which will become a highlight of China's total steel demand growth this year.

There are three reasons why China's indirect export of steel products is obviously optimistic in 2021: first, the consumption capacity is improved under the obvious rebound of the world economy; second, the impact of the epidemic makes the recovery of the manufacturing industry in Europe and the United States lag behind, which significantly increases the demand of China's electrical and mechanical products, such as household appliances, and increases the substitution effect of China's export; third, the inflationary pressure forces the U.S. government to relax its restrictions on Chinese goods import repression. Due to the influence of various factors, the global inflation pressure in 2021 will be greater and will accelerate. Over a period of time, the general and sustained surge of commodity prices in the international market is the release of this kind of inflationary pressure. In this case, if the U.S. government continues to impose high tariffs on Chinese cheap goods, the tariffs will eventually be transferred to the retail prices, which will make the U.S. inflation situation worse.

Therefore, it is expected that China's indirect export of steel products driven by household appliances, medical devices, containers and other products will increase significantly this year, and the growth rate will generally be more than double-digit. China's steel export situation is good, which will naturally increase total demand for China's steel products.