Can steel exports keep rising?

According to the data released by the General Administration of Customs, in terms of steel exports, in November 2022, China exported 5.59 million tons of steel, a year-on-year increase of 28.2%; From January to November, China exported 61.948 million tons of steel, up 0.4% year on year. In terms of imports, in November, China imported 752000 tons of steel, down 47.2% year on year; From January to November, China imported 9.867 million tons of steel, down 25.6% year on year.
Steel exports have rebounded month on month and year on year later or fell again month on month
Driven by the early price advantage and the recovery of export orders, China’s steel exports continued to show a month on month recovery in November, an increase of 410000 tons compared with October, or 7.9% month on month; From a year-on-year perspective, due to the low base in the same period of last year, the year-on-year growth still maintained a significant trend, with the growth rate increasing by 12.9 percentage points compared with last month.

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