SMM Review: Steel Exports High in Jan-Feb, March Decline Looms Due to External Pressures

[SMM Steel Import and Export Data Review] Cumulative Steel Exports in January-February Remain High YoY, External Pressure May Lead to a Decline in March?

According to the latest SMM survey on steel mill export schedules, the planned export volume for February decreased by 4.7% compared to the actual export volume in January. Although overseas supply and demand conditions have improved, providing a positive outlook for China's exports, it is worth noting that starting March 8, Vietnam will impose a provisional anti-dumping duty of 19.38-27.83% on Chinese HRC. Vietnam is China's largest steel export destination, and sanctions on Chinese steel products from South Korea, India, and the US are increasing. Additionally, based on the SMM survey, some export traders are currently facing bottlenecks in taking orders. Therefore, SMM expects that steel exports in March may decline compared to this month...