Source：MysteelAug 06, 2020 10:15See Full-size Table Here The Thai government’s imposition of 35.67% anti-dumping duties targeting China-origin hot-dipped galvanized (HDG) coils and sheets, announced on August 3, is being seen as an additional dampener on Chinese steel exports. Though for now, Chinese steel producers and traders are more focused on their home market.

China’s domestic steel demand is expected to recover further during this half of 2020 with the continued strengthening in the domestic economy to finally score an on-year growth for the whole 2020, offsetting the declines in the first half amid the COVID-19, Shen Bin, chairman of the China Iron and Steel Association (CISA) shared on July 31.

The Metallurgical Mines’ Association of China (MMAC) expects prices of seaborne iron ore to move within the range of $80-105/dmt CFR China for the second half of 2020 on higher availability but less demand, according to its WeChat sharing on July 31. “Ever-growing supply against the reduction in overall demand will see China’s iron ore market move into balance or a slight supply surplus,” MMAC said, adding that the changes may emerge sometime in mid- or late August.

China’s steel exports in June reached an eight-year low of 3.7 million tonnes while the country’s steel imports topped 1.9 million tonnes to hit a ten-year high, according to the latest statistics from China’s General Administration of Customs published on July 14. Industry sources cited low steel demand in the rest of world amid the COVID-19 outbreak for the fall in exports, and the early demand recovery in China after the virus eased for the surge in the latter.