China's steel exports reach highest level since 2015

China's steel exports surged to their highest level since 2015, raising concerns about increased trade tensions with countries already grappling with a flood of steel shipments.

Exports increased to 11.2 million tons last month, just below the record reached in September 2015, according to customs data on Thursday. That brings the year-to-date volumes 22% above the same period in 2023, News.Az reports, citing Bloomberg.

China’s protracted slump in the property market has left mills struggling as steel is one of the most affected commodities.

At the same time, the world’s biggest steel producer faces worsening trade relations with markets from Southeast Asia to Latin America as it tries to offload its surplus.

Governments in Vietnam, Saudi Arabia and Chile have launched trade measures against China this year.

News.Az