steel production and trade have become an important part of the global economy

In recent years, steel production and trade have become an important part of the global economy. With the increasing demand in the international market, the trading volume of foreign trade steel products is also increasing. The rapid development of the steel industry has made the supply chain organization of the foreign trade steel market more complicated. A recent example is that China’s steel imports have continued to increase, from 70 million tons three years ago to 120 million tons today. The quantity of steel products China imports from the world accounts for more than 40%. This has raised concerns among other steel producing countries, including the European Union, Japan and South Korea. These countries have imposed restrictions on China’s exports, which has also brought certain troubles to China’s steel industry. At present, the EU has further strengthened trade restrictions on steel products imported from China. In addition to the recently restricted imports of steel bars, the EU will conduct a comprehensive investigation on imported products such as hot-rolled coils, cold-rolled coils, galvanized coils, and galvanized coils. Other changes in the foreign trade steel market include increased production in Russia, and China has become Russia’s largest steel export destination. In addition, Vietnam’s steel production is also growing, becoming one of the major steel producing countries in Southeast Asia. In general, the future of the foreign trade steel market is still full of challenges and opportunities. Market players need to pay attention to the dynamic changes in the global market and integrate them into their business plans in order to maintain a competitive advantage in the highly competitive market.