Southeast Asia was the main destination of Chinese steel export, and Chinese steel exports were closely related to the demand for steel in the Southeast Asian market.
Despite the steady increase in overall exports, local demand was also changing. It could also be confirmed by the statistics of Chinese steel imports in January from the Association of Southeast Asian Nations (ASEAN).
One of the most important reasons for the adjustment of the steel import demand structure in the Southeast Asian market was that the localization speed of ordinary steel production in the region has obviously accelerated, and the self-sufficiency of low-end supply has caused the overseas resource market share to begin to be squeezed.
Local steel mills had begun to gradually meet the demand for low-end products in the local market. The self-sufficiency of this demand will naturally lead to a reduction in demand for overseas products. In this regard, Chinese steel enterprises must be highly valued and adjusted early.
Source from YIEH CORP
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