Optimistic outlook for ST37 steel demand

In 2020, China's foreign trade market grew against the trend, the scale reached a new high, and the prospect of ST37 steel demand will be optimistic. In December 2020, China's exports (in US dollars, the same below) increased by 18.1% and imports by 6.5% year-on-year, both better than market expectations.

In December, the export value of China's general machinery and equipment increased by 13.5% year-on-year, the export value of mechanical and electrical products increased by 23.6% year-on-year, and the export value of automobiles, automobiles and spare parts increased by 13.5% and 10.6% year-on-year respectively. On the whole, thanks to China's complete industrial system and strict epidemic prevention measures, the industrial chain and supply chain remain stable. Under the background of the new development pattern of domestic and international double circulation advocated by the central government, China's manufacturing industry is recovering steadily, the industrial transformation and upgrading is accelerating, and the international competitiveness is significantly improved. In December, China's export of high-tech products increased by 26.6% year-on-year.

In 2020, the total value of China's import and export goods will exceed 32 trillion yuan, with a year-on-year growth of 1.9%, a record high. Under the background of the global economy suffering from the impact of the epidemic, China will become the only country with positive growth. As the basic material of the national economy, ST37 steel and so on steel materials have an optimistic future demand.