CRU: Rising protectionism will continue to weigh on Chinese steel export prices

Chinese steel export prices are expected to remain stable or fall in the coming weeks as trade restrictions rise and tensions between the country and the US escalate.

Although the US accounts for less than 1% of direct steel exports from China, steel-containing products exported to the US by China will be impacted and this may reduce Chinese domestic steel demand. These ongoing trade tensions have dampened market confidence in China as indicated by the CRU China Steel Export Market Confidence Index (please see below).