As a significant part of the bulk commodity industry, iron and steel industry is concerned by professionals in the ferrous industry. According to the World Steel in Figures we can see the regions and countries which play considerable roles in the global steel trade. JumoreGlobal analyzes the exports, imports, regions changes of the steel market of past years for platform members know more about global steel industry.
Trade — Exports and Region
The steel products export up-trend has been continuing from 2005 to 2015. The total exports of regions were also significant changed. The exports increased between 2006 and 2007, then decreased by26.2 percent in 2008 and 2009. During this period, except the European Union, Asia and Oceania, exports of other regions were dropped After that, in addition to 2013, the exports of steel increased every year. In 2016 exports was went down 7 percent. Based on existing data, the export decreased in North and South Americas, Africa, and the Middle East. Increased in Asia and Oceania.
Trade — Imports and Region
The import of global steel products has fluctuated sharply since 2005. Imports grew during 2005-2007. From 2007 to 2009 the steel imports decreased quickly. It is noticeable that the import in 2011 has increased. After a brief rise in the import rate, imports decreased by 14.2 percent, between 2012 and 2015. Similar to exports, imports by region showed mixed trends. British steel imports grew the most in steel imports between 2005 and 2016. The Middle East and Africa decreased in their import.
Due to the market changes and industry transfer, the traditional heavy industry is declining with the rise of service industry. The steel industry is a typical example. Most countries, like China, lack the ability to produce high-end steel and can only supply low-end steel. The low-profit normal steel production occupies majority of the national capacity. Even though high-end steel has higher profit margin, the technology which only mastered by developed countries like America and Germany is the main barrier for high-end steel production.
A serious issue of China and other countries is how to deal with the excess capacity and lower the steel stock. For solving this problem, expert proposes to build a cross-border e-commerce platform to sell steel to developing countries. This solution has two benefits, to help excess capacity countries decrease stock and other developing countries improve infrastructure construction. For the past few years there are many newly-developing platforms provide this service and JumoreGlobal has an independent platform called JumoreSteel which is one of the world’s leading online B2B platforms specialized in the cross-border steel trade. With the aims of facilitating global trade opportunities for millions of suppliers and buyers worldwide through its leading service systems and expertise in the international trade, JumoreSteel is always ready for supporting your business.