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Demand for Steels Rebounds in China, Steel Products Speed Up "Going Overseas"

Entering the fourth quarter of 2023, the operating rate of large-scale projects across China remained at a high level, leading to a rebound in demand for the steel used in infrastructure. Meanwhile, the demand for the steel used in China's manufacturing industry is picking up, and the export volume of steel products is also growing significantly.


In one operation area at Jingtang Port of Hebei Port Group, 5 of the 7 berths in the harbor pool are loading steel for foreign trade.


According to Mr. Su Yiwei,the deputy manager at the 2nd Company of Tangshan Port Group, the bulk carrier Cl Biliu He on Berth 11, plans to load 55,000 tons of medium plates, coils and cold steel plates for foreign trade to Southeast Asian countries. In the first 10 months of this year, Jingtang Port completed 8,888,300 tons of steel shipments for foreign trade, an increase of 121.2% year-on-year, a record high since the opening of the port. Recently, there are foreign trade ships arriving at the port to load cargo every day.


This port area currently has 12 international steel trade routes to more than 30 countries and regions.


Sheet metal, particularly the export of cold steel plates, galvanized plate, including coils,shows a large increase in volume throughout the shipment compared to previous years.


Mr. Zhao Songshan, Assistant General Manager of Shougang Zhixin Qian'an Electromagnetic Material Co., Ltd., said,"Overseas sales of electrical steel have increased significantly. To develop the global market, we have continued our globalization. We are promoting the certification and sales of high-end products in overseas markets."


Data from the China Iron and Steel Industry Association (CISIA) show that the total amount of steel exported from China in 2023 remained at a high level.From January to October, China exported 74.732 million tons of steel, up 34.8% year-on-year. In addition, the export of high value-added products is increasing.


Fan Tiejun, president of China Metallurgical Industry Planning and Research Institute said: "The average price of exported steel reached 964 U.S. dollars per ton this year, an increase of 66.6% over the average price in 2015. As the product structure of steel continues to be optimized, the proportion of exported steel plates and strips this year accounted for more than 60% of the exported steel products."