China Steel Association expects China's steel exports will further decline in the future

Affected by factors such as the US subprime mortgage crisis and the financial crisis, China's steel exports fell sharply in the first three quarters of this year. China Iron and Steel Association predicts that the next step will be to further reduce the export of Chinese steel products.

According to statistics, from January to September this year, China exported 48.46 million tons of steel, a year-on-year decrease of 10.61 million tons, a decrease of 2.14 percent; exports of billet 1.1 million. Tons, a year-on-year decrease of 48.37 million tons, a decrease of 81%. In the same period, China imported 12.3 million tons of steel, a year-on-year decrease of 68.7 million tons, a decrease of 5.3%; imported steel bills 139,000 tons, a year-on-year decrease of 27%.

At the press conference held in Beijing on the 30th, Luo Bingsheng, vice chairman of the China Iron and Steel Association, said that from January to September this year, China’s imports and exports of steel and billets were offset by a total of 39.47 million tons of net exports of crude steel. This was a decrease of 5.18 million tons from the same period of last year, a decrease of 11.6%.

Luo Bingsheng said that the most immediate impact of the US subprime mortgage crisis and the financial crisis on the Chinese steel industry is that orders for export of steel products have been greatly reduced. Companies generally report that export orders fell by about 50% in the fourth quarter of this year, and steel products exports in the first quarter of next year. Orders have also been significantly reduced, and it is expected that China's steel products exports will further decline.

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