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Direct and indirect S460N steel exports maintain rapid recovery

Posted:2021-03-31 17:28:59

As the overseas economy continues to recover, China's steel exports and indirect exports have both shown rapid growth. Among them, the national direct export of S460N steel and so on steel products reached 10.14 million tons from January to February, a year-on-year increase of 129.9%. In terms of indirect exports, downstream manufacturing exports accelerated, mechanical and electrical exports increased by 54.1% year-on-year, accounting for 60.3% of the total export value. Automobile exports increased by 93.4% year-on-year, loaders exports increased by 44% year-on-year, and excavator exports increased by 60.7% year-on-year. The continuous rebound in exports means that external demand has increased.

It should be noted that the new export tax rebate regulations are expected to be introduced around April 1, which will have a certain impact on major export categories such as hr coils. However, from the perspective of production reduction, the impact on the supply and demand structure is relatively limited. And with the rise of international steel prices, the upward momentum of China's S460N steel prices remains unabated.