China’s Steel Exports Expected to Decline in 2022 because of the demand-supply gap in the domestic market. However, in indirect exports of steel products, ex-China demand is likely to remain stable. China’s commodity exports increased y-o-y, most of which were steel consuming products. As a result, a huge amount of steel is exported indirectly. Most of these exports are to South East Asia and especially in hot rolled coils, because the high HRC export prices offer profit margins. But the export volume may not increase significantly moving forward because margins on semis may not be that much and also considering the carbon emission controls that were forced on the steel mills.
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