China's seamless steel pipe exports in January-February were 13.17 million tons, down 25.7% year-on-year. The analysis believes that the reason for the decline in China's seamless steel pipe exports is that the expectation for the future domestic demand market continues to strengthen; second, the international market trade protectionism prevails and targets China. The Chinese government and large steel companies are consciously reducing conflicts by reducing exports. It is predicted that if this trend continues, China's seamless steel pipe exports will drop to around 80 million tons this year. From the numerical point of view, it will greatly alleviate the problem of oversupply in the world seamless steel pipe market.
At the two sessions this year, Premier Li Keqiang proposed to compress 50 million tons of capacity this year on the basis of compressing steel production capacity of 65 million tons last year. At the same time, it has issued a large-scale investment plan to expand the demand for seamless steel pipes, including infrastructure such as houses, railways, highways, canals, and pipe networks, as well as “One Belt and One Road” cooperation projects and pension industries. China's economy is shifting from a quantitative growth to a qualitative leap, and its steel sector will also achieve a balance between supply and demand and industrial upgrading by expanding demand and compressing production capacity.
The changes in China's steel industry will undoubtedly have a positive impact on the global steel industry, but it is a "double-edged sword" for South Korea. On the one hand, the reduction of China's seamless steel pipe exports will help balance the supply and demand of the international seamless steel pipe market and reduce trade friction; on the other hand, the upgraded Chinese steel industry will become a stronger competition in the Korean steel industry after Japan. opponent.
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