China's steel material exports may continue to pick up in the short term

According to the data released by the General Administration of Customs, from January to February 2021, China exported 10.14 million tons of steel material, a year-on-year increase of 29.9%; from January to February, China imported 2.395 million tons of steel materials, a year-on-year increase of 17.4%.

As the data released this time is accumulated from January to February, we use the total data of the last two months of last year to observe the month on month changes. From November to December of last year, we exported 9.255 million tons of steel material and imported 3.229 million tons of steel. By comparison, we can see that the steel import and export trade generally continues the trend of export recovery and import decline.

Recently, overseas steel material export quotation has been reduced, but China's steel export quotation still has obvious advantages. Overseas steel demand is recovering, and China's steel export price advantage promotes export to maintain a rebound trend.

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