In the first 10 months of 2019, China's steel exports totaled 55.087 million tons, down 5.8% year-on-year, significantly affected by the deterioration of foreign trade environment. Although the Sino US trade war has little impact on China's steel exports, it is only one of the symptoms of the deterioration of the global trade environment.
As the global manufacturing industry shrank, the growth rate of total steel demand continued to decline, and the demand for steel showed a narrowing trend. In addition, with the development of steel enterprises in Vietnam and other countries and regions, China's steel products may face new competitors. In addition, considering the low cost of human resources in Southeast Asian countries, it is not ruled out that some steel (coarse steel) will flow into China and compete with Chinese steel mills.
