China’s steel exports are still under pressure

China exported 64.293 million tons of steel in 2019, down 7.3 percent year-on-year, according to customs statistics, which affected the demands of .hydroponics green house. According to the monitoring data of Lange steel research center, currently, China’s steel export destinations are mainly in Asian countries. In 2019, the steel export volume to Asia is 45.07 million tons, accounting for 70.0% of the total steel export volume. The American region was next with the export volume of 7.743 million tons, accounting for 12.0%. Africa ranked third with 6.105 million tons, or 9.5% of the total. 4.68 million tons in Europe, accounting for 7.3%; Oceania accounted for 754, 000 tons, accounting for only 1.2 percent. Since late February, the epidemic has spread rapidly around the world, and the number of confirmed cases has risen sharply in a short period of time.

According to new data released by the world health organization (who), as of 10 a.m. Central European time on March 9, 3,948 new cases of covid-19 were confirmed in the world, bringing the total number of confirmed cases to 28,673. The number of countries and regions affected by covid-19 outside China has exceeded 100. At present, the epidemic in Asia and Europe is serious; the development of the epidemic has an impact on the global economy including the development of glasses greenhouse and will also form a certain inhibition on China’s steel export demand. Before the outbreak, several agencies predicted that global economic growth would pick up by 2020. In January, the international monetary fund forecast that the global economy would grow by 3.3 percent in 2020, up from 3 percent in 2019. However, with the gradual spread of the epidemic, the agency is full of pessimistic expectations for the global economic development in 2020. The OECD also expects a sharp slowdown in global economic growth in 2020. In its new global economic outlook released on March 2, the OECD lowered its forecast for global economic growth in 2020 from 2.9% before the outbreak of covid-19 to 2.4%, a low level since 2009. The institute of international finance also said recently that the global economy of glass curtain wall systems will grow by nearly 1 percent in 2020, the lowest level since the global financial crisis.

With the rapid spread of the epidemic outside China, the global manufacturing sector is still expected to struggle to recover from the downturn in March. While China is fighting the covid-19 outbreak, some foreign steel producers, such as Turkey, Iran and Russia, are also paying close attention to the potential gap in the international market. Subsequent Chinese steel export competition of galvanized steel pipe will be more intense.