Jan-Feb’25 exports came at a 9-year high of 17Mt (+7% YoY) as weak domestic demand and a sluggish construction sector kept pushing surplus steel abroad. Anti-dumping measures in Brazil, India, South Korea, Vietnam, and the USA have yet to curb shipments. With the NDRC proposing output cuts in 2025 (rumoured up to 50Mt), all eyes are on China’s steel export trajectory.
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