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Steel exports

Below policy adjustment, why does steel pipe industry in the first half of the year import weakness, export high position pulls back? Cisa report analysis that Chinese steel demand of welded steel pipe remains strong, but overseas supply gap is more severe. In addition, the profit of foreign trade is higher than that of domestic trade, and the conversion of domestic sales into foreign trade has increased significantly. Since mid-May, domestic commodities, including ferrous metals, have been adjusted back due to supply stabilization policies and other factors, and overseas prices have been significantly less adjusted than domestic prices.

According to CISA monitoring, at the end of June, China’s steel price index fell 0.42% month-on-month to 143.47 points, the international steel price index rose 7.3% month-on-month to 323.1 points, China’s steel export price advantage continues to highlight. Since August 1st, the tariff on hot rolled steel pipe products will be adjusted again, so as to raise the export tariff on chromate and high purity pig iron. At the same time, 23 kinds of steel products such as rail export tax rebates will be cancelled. The policy continues to push forward, what is the potential after import and export of Chinese iron and steel products? Cisa report said that looking forward to the future, China’s steel exports will face downward pressure, the annual import volume is difficult to increase significantly. In terms of supply, overseas crude steel output has basically recovered to the level before the epidemic, which has produced crowding out benefits for the export of Chinese steel products. From the cost point of view, bulk raw materials and logistics costs rose significantly, coupled with the export tax rebate policy further adjustment, which are pushing up the cost of domestic steel products export; The international market pre galvanized steel pipe price and other factors to promote the domestic steel production enterprises export orders more cautious, the current new export orders index has fallen to the contraction range for two consecutive months, indicating that there is a greater downward pressure on the latter domestic steel export situation.

In addition, with the continued recovery of overseas demand, steel prices in the international market will remain high, and the cost of imported resources has increased significantly. Last year, the inversion of import and export prices no longer exists, which is not conducive to the rapid growth of steel imports. Cisa data show that in the first half of the year, China’s cumulative production of crude steel 563 million tons, an increase of 11.8 percent year-on-year, the two-year average growth of 6.97 percent. Under the “double control” policy of our steel production capacity and crude steel production, the whole nation’s iron and steel production will decrease more in the second half of the year. Industry analysts said that some other countries to meet the priority domestic steel demand of round steel pipe, have also adjusted tariff policies to restrict exports and encourage imports.

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