Will S700MC coil exports increase in the first quarter of 2021

S700MC coil and so on steel exports will continue to increase in the first quarter of 2021. The domestic and international steel supply and demand pattern needs to be adjusted by import and export. The recovery momentum of the foreign automobile industry is good, and the demand for S700MC coil and so on sheet metal still has room for growth. The European Business Association predicts that the Russian automotive and light commercial vehicle (LCV) market will grow by 2.1% in 2021, which may increase the domestic demand for sheet metal by 30,000 tons; the Turkish Automobile Distributors Association (ODD) predicts its domestic car sales in 2021 will continue to grow, driving the demand for S700MC coil and so on automotive steel. The current tight supply and demand pattern in overseas countries continues, and increasing imports to ease the pressure will be an effective method.

Domestically, from the analysis of the current situation, although the market is generally optimistic about S700MC coil and so on steel demand in the first half of 2021, the seasonal weakening of steel demand at this stage is inevitable, and it will fall into a short-term stagnation around the Spring Festival, and inventory will continue to accumulate. Therefore, in order to reduce domestic supply and post-holiday inventory pressures, major steel mills will also actively turn domestic trade into export sales.