South Korea is China's first steel exporter

According to the latest statistics from the China Iron and Steel Association, in the first five months, China has exported 25,379,900 tons of steel. Among them, the steel export volume in May was 5,144,000 tons, which was a decrease of 136,200 tons compared with the previous period and a decrease of 2.45% from the previous period. It is understood that some hot-rolled alloy steel exports from China in the ASEAN and South Korea markets have dropped month-on-month and have lasted for two months.

Since March, China’s relevant enterprises have reduced the number of hot-rolled alloy steels exported to ASEAN and South Korea by two months in a row, through measures such as strengthening self-discipline and appropriately controlling export rhythms. Among them, exports to ASEAN fell by 8.43% month-on-month, and exports to South Korea decreased by 25.88% month-on-month, with a month-on-month decline further than in April.

According to the division of countries and regions, South Korea is still the largest exporter of steel in China. In May, the top 10 countries and regions in China's steel exports were South Korea, Vietnam, Indonesia, the Philippines, Thailand, Singapore, Malaysia, Hong Kong, the United States, and Brazil. Among them, the exports to the United States and Brazil grew faster than the previous month, and the exports to Brazil doubled. Related companies must pay attention to the export rhythm.