China Steel Plate/Sheet Exports Soar in Q1 2023, Manufacturing and Infrastructure Investment Increases

According to customs data, China exported 5.28 million mt of steel plate/sheet in March, an increase of 62% on a year on year basis. In Q1, the exports rose 48.2% year-on-year.

From January to March 2023, China's manufacturing and infrastructure investment increased by 7.0% and 8.8% year-on-year respectively, but the growth rate dropped by 1.1 percentage points and 0.2 percentage point when compared with January-February.

Fixed asset investment (excluding rural households) across China stood at 10.73 trillion yuan in Q1 2023, up 5.1% YoY, but down 0.25% on a quarterly basis.