Insight
China's Steel Exports: A Short-lived Boom
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Report summary
China removed the VAT rebate on steel exports in 2021, aiming to discourage exports and align with carbon emission reduction goals. Despite this policy shift, Chinese steel exports rebounded to 91 Mt in 2023, only a little lower than the earlier peak of 112 Mt in 2015. This triggered a series of global trade measures against China, despite which Chinese steel sailed 24% higher in H1 2024. There are an increasing number of questions on the sustainability of these export levels beyond 2024. This insight will help answer the following questions - Whom did China export to and why? What did they export, and at what prices? Will the high export volume be sustainable in the future? Please find the detailed report in the Report downloads section on this page.
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