International API 5L X60 PSL1 steel price is far higher than that in China

At present, the price of API 5L X60 PSL1 and so on steel products in the world is far higher than that in China's domestic market, which is becoming a powerful driving force to stimulate China's steel exports. The excessive steel export will inevitably impact the supply and demand of steel in China. Therefore, the relevant departments have greatly adjusted the import and export tariffs of steel. Affected by this, the international steel market will be tight and the price will rise.

Nowadays, the price of API 5L X60 PSL1 and so on steel products in the international market is much higher than that in China. In late April of this year, the market price of hot coil in Europe was about 1160 US dollars; In the United States, the price of standard hot rolled coil is about 1500 US dollars per ton, which is almost three times of its average price level in recent 20 years. In addition, the price of construction steel in Europe, America and Japan is significantly higher than that in China.

The huge gap between the international market and China's domestic steel prices is becoming a powerful driving force to stimulate China's steel exports. According to the statistics of the General Administration of Customs, from January to April this year, China exported 25.654 million tons of API 5L X60 PSL1 and so on steel products, with a year-on-year growth of 24.5%, which not only turned to increase, but also kept increasing.

The rapid growth of China's steel export has exacerbated the tension between domestic steel supply and demand in China, which has become one of the factors for the sharp rise of steel prices such as API 5L X60 PSL1. To this end, the relevant departments have recently substantially adjusted the import and export tariffs of steel products. The main contents are: cancel the export tax rebate of 146 kinds of steel products such as hot rolling, covering most of the export steel products; At the same time, zero import tariffs will be imposed on some primary steel products. In the short run, these measures will have some effects on improving the domestic steel supply and demand in China.