According to the data from Czech Steel Union, the Czech Republic exported around 4.9 million tons of steel in 2018, and the export value increased by 5.6% year-on-year, which set a record high. The main reason of increase in exports was the production of high-end products.
The report showed that the EU was the main market of Czech steel exports. In 2018, Czech steel products exported to the EU accounted for 89%, of which the main export countries included Germany, Poland and Slovakia.
Czech Steel Union predicted that the economic slowdown in the EU will have a negative impact on the Czech steel industry in the next two years.
In addition, the report also mentioned that China was the world's largest steel producer, with the production of 928 million tons in 2018, more than half of the world’s production capacity.
Source from Yieh Corp
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