In terms of steel trade, China's steel exports continue to maintain a strong growth trend. According to the statistics of the General Administration of Customs, in October 2024, China exported 11.182 million tons of steel, a year-on-year increase of 40.8%. This growth was mainly due to the recovery of the global manufacturing industry and the year-on-year decline in overseas steel supply. With the steady recovery of the global manufacturing index and the weak recovery of external demand, the export orders index of Chinese iron and steel enterprises is also rebounding in the contraction range. Combined with factors such as the depreciation of the RMB, the momentum of China's steel exports has been further enhanced.
However, steel exports also face some challenges. For example, the increase in steel trade frictions and the gradual introduction of relevant tariff rate rulings will have a certain impact on steel exports in the future. Therefore, Chinese iron and steel enterprises need to continue to strengthen technological innovation and product quality improvement to cope with changes and competition in the international market.