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Chinese steel exports to reach eight-year high

Imports into Europe expected to spike later this year

China’s steel exports are set to reach an eight-year high this year, inundating the world with low-cost supply and threatening to inflame global trade tensions.

Exports from China, the world’s biggest steel producer, are expected to top 100mn tonnes in 2024, the highest since 2016, according to Shanghai-based consultancy MySteel. 

“Steel exports have been at historic highs so far this year,” said Vivian Yang, head of editorial at MySteel. She forecasted that total steel exports would be 100-101mn tonnes for the year as a whole, the third-highest ever.

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