Global steel demand is expected to keep growing, which will benefit China's steel exports

Against the background of slowing economic growth, global steel demand is expected to continue to grow. The World Iron and Steel Association recently released its steel demand forecast report for 2019-2020, which shows that global steel demand will reach 1.735 billion tons in 2019, an increase of 1.3% over the same period last year. In 2020, global steel demand will grow by 1.0% to 1.752 billion tons. This will benefit China's steel exports.

Data show that in the first quarter of this year, China exported 17.73 million tons of steel, an increase of 12.6% over the same period last year, the first increase after three consecutive years of decline in steel exports. However, the China Iron and Steel Industry Association recently pointed out that the risk of capacity expansion in China's iron and steel industry still exists, reminding industry enterprises to strengthen self-discipline, control production rhythm reasonably, carefully study changes in the international market, and maintain supply-demand balance and market stability.