Industry News

Chinese steel exports on the rise with support from 3 key factors

Views : 85
Update time : 2023-09-13 16:10:15
Since 2023, China's steel exports have shown remarkable strength. According to statistics from the Chinese customs authorities, from January to August 2023, China's steel exports reached around 58.79 million tons, marking a year-on-year increase of 28.4%.

The strong growth in Chinese steel exports can be attributed to three key factors. First, Chinese steel and iron products continue to maintain their competitiveness in terms of pricing. Second, the devaluation of the yuan against the US dollar has expanded China's competitive advantage in the steel industry. Third, Chinese authorities have implemented foreign trade policies that support and facilitate the steel export sector.

These factors have contributed to the surge in Chinese steel exports in 2023.
Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices