Steel Industry's Status of China

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Steel Industry's Status of China

As the biggest crude steel output's country, China is improving the exporting speed about the products in excess capacity.

Showing from the data of Chinese General Administration of Customs, China has exported 93.78 million tons, which has been rose by 50% than total quantity in 2013 drastically.This no created a new record high. Besides, from Jan to Aug in 2015, the total exporting quantity for steel products has reached 71.87 million tons. the rising range is 26.5% comparing with same period than 2014.

'With this tendency, there is a chance that in 2015 the export volume for steel products could reach 100 million tons, which will be the first time hitting 100 million tons' level in Chinese history.' Commented by an officer of China Iron and Steel Association.

Though the export volume is increasing, because of the steel price had a sharp decrease since 2014, it makes Chinese steel enterprises getting less profit than before, even some mills are runing at a loss. For softing the bad condition, most mills have taken some measures like closing certain production lines or arranging production plan after collecting enough order quantity.

From Jan to Aug in 2015, the top ten countries importing steel from China is Korea, Vietnam, Philipines,Thailand, Indonesia India, Malaysia, Singapore, America, Turkey. The total volume is about 35.94 million tons. half of the export quantity from China.Meanwhile, some countries like Thailand, India, Malaysia, America,Turkey have taken the trade remedy investigation to China.

Now for China steel industry, some comments pointing out steel enterprises should not only foucsing on some areas in south east of Aisa, Europe and America but expand the market to other places in the world. Second, it is necessary to balance high and low value- added steel products' export structure to soft the poor condition for profit.

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