Impact of S690QL steel price rising

Some time ago, steel prices and bulk commodities rose sharply. Although there has been a correction recently, there is a great momentum of sustainable rise. What are the possible impacts of the continuous rise of S690QL steel price?

Steel prices continue to rise will stimulate China's S690QL steel excessive exports. Such a huge price gap, of course, will produce a huge stimulus to China's steel exports. According to the statistics of the General Administration of customs, from January to April this year, China exported 25.654 million tons of steel, an increase of 24.5% over the same period of last year, which not only turned from a decline to an increase, but also kept accelerating the growth. As the trend of tight goods and high prices in the international steel market is still developing, if new measures are not introduced, even the appreciation of RMB and the reduction of some steel export tax rebates, China's excessive export of steel may reappear. For example, China's annual steel export volume exceeds the previous peak, and the converted crude steel is close to or reaches 100 million tons.