China's trade in iron and steel by trade partners

China's trade in iron and steel by trade partners

Top trade partners of China in iron and steel exports include South Korea, Vietnam, the Philippines, United States, and Thailand.

The share of China in imports of iron and steel in 2019 was the highest in the case of Monaco (99.1%), North Korea (95.5%) and Brunei (84.5%). In the case of the largest 50 importer's, it was the highest for Chile (65.7%), the Philippines (60.4%), Vietnam (51.3%) and South Korea (48.5%). For 30 trade partners, the share of China in 2019 exceeded the 50% benchmark. On average the share of China is the highest in the case of bordering East and South-east Asian states.

China lost share in imports of iron and steel with 131 countries between 2016-19 (the highest were in the case of Panama, Haiti, Cuba, Lebanon, and Hong Kong SAR). It increased the share in the case of 83 trade partners.

Chinese exports of iron and steel increased the most in the analyzed period (2016-19) in the case of United States (+439,854.7 metric tons), Nigeria (+433,667.4), Chile (+408,612.3), Brazil (+333,566.0), Uzbekistan (+187,315.0), Colombia ( +176,753.1 ) and Russia ( +164,976.5).

The largest drops appeared in the case of Asian trade partners of China in particular from East and South-east Asia Japan (-1,037,169.6 metric tons), Pakistan (-1,041,771.4), Taiwan (-1,308,348.1), India (-1,433,404.9), Singapore (-1,453,789.5), Malaysia (-1,467,270.8), Turkey (-1,475,829.6), Hong Kong SAR (-1,484,486.9), Saudi Arabia (-1,564,415.3), Indonesia (-2,563,813.2), Thailand (-2,689,731.9), Vietnam (-3,992,327.6) and South Korea (-6,689,805.3). More detailed analysis shows that this is mostly due to the overall weaker demand for iron and steel in these markets in general (an overall decrease in imports of iron and steel product) and the increased domestic production potential. Closer investigation showed that the imports from China were to some extent replaced (depending on a country) by imports from Vietnam or other countries in the region (Malaysia, Japan, India, Indonesia, Thailand, Taiwan, South Korea), the Persian Gulf States (UAE, Oman, Iran, Bahrain and Pakistan), as well as from Turkey, South Africa, Russia and Brazil.