According to the statistics of the General Administration of Customs, from January to June 2023, China exported 43.58 million tons of steel, an increase of 31.3%, and exported billets 1.67 million tons, an increase of 112.6%; Imported steel was 3.74 million tons, down 35.2% year-on-year, and imported steel billet was 1.18 million tons, down 68.5% year-on-year. The net export of crude steel was 42.11 million tons, up 64.3% year-on-year.

Compared with the same period last year, China's steel export prices have fallen. In the first half of the year, the average price of China's steel exports was $1,075 per ton, down 24.7% year-on-year; The average import price was $1,718 per tonne, up 10.2 per cent from a year earlier. Steel exports increased sharply in the first half of the year, easing the supply pressure on the domestic steel market.

It is worth noting that in the first half of the year, China's steel price index averaged 113.21 points, down 15.4% year-on-year. The average value of the international steel composite price index was 234.4 points, down 24.5% year-on-year. International steel prices have fallen much more than in China. China's steel exports to the main countries are Vietnam, Indonesia, Malaysia, Saudi Arabia, Egypt, Brazil and the United Arab Emirates.

China's steel indirect exports are mainly distributed in machinery, metal products, ships, steel structures, home appliances, containers, automobiles, motorcycles, bicycles and railway vehicles and other 10 categories, according to estimates, the first half of this year, steel indirect exports of 59.34 million tons, an increase of 0.8%.

From January to June 2023, China's direct and indirect exports of steel totaled 102.92 million tons, a significant increase year-on-year. Due to the slowdown in global economic growth, China's manufacturing exports are facing greater pressure, and it is expected that the growth space of indirect steel exports is relatively limited, and the overall situation will remain stable throughout the year.