According to the latest news from the China Iron and Steel Association, after breaking the ten-million-ton mark in September, China's steel exports reached a new peak in October. However, despite the significant increase in export volumes, the export prices of steel have continued to decline, presenting a trend characterized by "increased volume but decreased value" in steel exports. Statistics show that in the first ten months of 2024, the total volume of China's steel exports increased by 23.0%, while the total export value fell by 2.9%.

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Specific data indicates that from January to October 2024, China cumulatively exported 91.893 million tons of steel, an increase of 17.161 million tons or 23.0% compared to the same period last year. The average export price dropped to $761.4 per ton, a decrease of $202.8 per ton or 21.0% year-on-year.

In October 2024, China's steel exports were particularly remarkable, reaching 11.1816 million tons, representing a month-on-month increase of 10.1% and a year-on-year surge of 40.8%. The average export price for that month was $699.5 per ton, down 2.8% from the previous month and 11.7% lower than in October of the previous year.

Looking ahead, the China Iron and Steel Association (CISA) analysis suggests that since the second half of this year, the pattern of steel exports has gradually shifted from "volume growth with price drops" to "volume growth with value decreases". It is expected that during November and December, the volume of steel exports will remain at high levels, potentially setting a new record for annual steel exports. Notably, up to now, China has faced 27 new trade remedy investigation cases. Therefore, it is recommended that companies balance short-term interests with long-term development, reasonably balancing export benefits and channels to achieve sustainable expansion of export business.