According to the latest data released by the General Administration of Customs on Friday, China exported 6.327 million tons of steel materials in March 2019, an increase of 181.5 tons compared with the previous month, an increase of 12.0% over the same period last year; China exported 17.025 million tons of steel materials in January-March, an increase of 12.6% over the same period last year.
At the beginning of this year, we predicted that because the United States, the European Union, Canada and even India have adopted the strategy of increasing tariffs on steel exports to protect their own steel enterprises, China's steel exports this year will not perform well. But from the current data, this year's steel exports are not normal. The reason for this is that the demand for "one belt and one road" has been gradually increasing. In the first quarter of this year, China's total imports and exports to the countries along the "one belt and one road" totaled 2 trillion yuan, a sharp increase of 7.8%, accounting for nearly 3 of China's total foreign trade. If steel materials exports can continue to perform well in the later period, although steel prices may not rise sharply, it will undoubtedly boost market confidence.
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