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Global Steel Trade Has Grown Slowly in Recent Years

Global Steel Trade Has Grown Slowly in Recent Years
From the perspective of global steel trade, since 2000, besides the 2008 financial crisis, global trade in bulk commodities has grown steadily. However, the volume of steel trade is subject to various factors. In the past five years, the increment has been limited and the growth rate has been slow. According to the export volume of varieties, in 2018, the export volume of hot rolled steel sheet and coils reached the highest, reaching 79 million tons, followed by steel ingots and semi-finished materials, reaching 60.2 million tons. The export volume of galvanized products reached 44.7 million tons. The export volume of steel pipes and fittings reached 41.3 million tons. Glory Steel could offer hot rolled steel sheet with various grades, like A36 hot rolled steel sheet, SS400 hot rolled steel sheet, etc.
From a country perspective, in 2018, China’s net export of steel net exports reached 54.4 million tons, followed by Japan (29.8 million tons), Russia (27 million tons), and South Korea (15.1 million tons). Ukraine (13.5 million tons). Of the net importers, the United States net imports reached 23.1 million tons, followed by the EU 28 countries (16.5 million tons), Thailand (13.6 million tons), the Philippines (9.1 million tons). From the perspective of export trade, China and Japan’s export destinations are mainly in Asia, and the North American Free Trade Zone imports mainly from the EU and other Asian countries (except China and Japan).
In terms of iron ore production, global iron ore production totaled 2.167 billion tons in 2018, an increase of 74 million tons from 2017. Among the major iron ore producers, Australia produces 883 million tons of iron ore, an increase of 42 million tons from 2017. Brazil produces 435 million tons of iron ore, an increase of 4 million tons from 2017. India produces iron ore 210 million tons, an increase of 17 million tons from 2017. China produces 115 million tons of iron ore (after adjustment), an increase of about 2 million tons from 2017.
From the perspective of iron ore trade, in 2018, the world’s major iron ore export destinations are still Oceania (mainly Australia), with a total export volume of 890 million tons and a net export volume of 889 million tons. Export destinations mainly include China (682 million tons), Japan (72.2 million tons), and other Asian countries (162 million tons). Other countries in the Americas (mainly Brazil) have a total export volume of 426 million tons, and net exports reached 416 million tons. Main export destinations include China (240 million tons), Japan (35 million tons), and other Asian countries (43.2 million tons). From the perspective of imports, China is still the world’s leading importer of iron ore. In 2018, iron ore imports reached 1.064 billion tons, mainly imported from Australia and Brazil.

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