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Optimistic Outlook for Carbon Steel Wire Foreign Trade Market, Growth Momentum Improving

Release time:2021-04-20 08:16:16

In 2020, affected by the global economic environment, the carbon steel wire foreign trade market once slowed down. But entering 2023, benefiting from the economic recovery of major countries and the control of the epidemic, the carbon steel wire foreign trade market is resuming growth momentum, market confidence and demand have increased.

China is the world's largest producer and exporter of carbon steel wire. In the first three months of 2023, China's carbon steel wire exports increased by 21% year-on-year to 380,000 tons, and export value increased by 31% year-on-year to US$2.25 billion. The double growth of export volume and value shows that the foreign trade market is gradually picking up and demand is strongly recovering. 

Southeast Asia and Europe and the United States remain important export destinations. Emerging market countries have a high dependence on Chinese carbon steel wire, and their demand has recovered faster due to less impact from the epidemic. In the high-end market, high value-added carbon steel wire from China also has good consumption and market prospects in developed countries. 

Industry analysts expect that the carbon steel wire foreign trade market will maintain 10-15% growth in 2023, higher than the global GDP growth rate. Post-epidemic global gate demand and infrastructure demand will benefit staple exports. The penetration of Chinese products in the high-end market will further consolidate its industry position.

Domestic companies have strong advantages in production capacity, technology, cost control, etc., which will also support their continued competitiveness in the foreign trade market. In the future, the carbon steel wire industry will further consolidate and increase its share in the global market through industrial chain upgrading and the development of high value-added products 

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