27
2025
-
02
Seminar on New Opportunities in Global Steel Trade, Focusing on Export Growth and Corporate Innovation
On February 17, 2025, China Iron & Steel Industry Association (CISIA) held a seminar on the situation of import and export trade of iron and steel products, in which Xiao Lu, Deputy Director General of the Department of Foreign Trade of the Ministry of Commerce (MOFCOM), engaged in an in-depth dialogue with representatives of Baosteel, Anshanshan Iron & Steel, and a number of other enterprises, discussing the future trend of iron and steel trade and the necessity of industry innovation.
On February 17, 2025, China Iron & Steel Industry Association (CISIA) held a seminar on the situation of import and export trade of iron and steel products, in which Xiao Lu, Deputy Director General of the Department of Foreign Trade of the Ministry of Commerce (MOFCOM), engaged in an in-depth dialogue with representatives of Baosteel, Anshanshan Iron & Steel, and a number of other enterprises, discussing the future trend of iron and steel trade and the necessity of industry innovation. The global steel market has changed significantly in recent years, and global steel consumption in 2023 will increase by about 3.5% compared with the previous year, reflecting the economic recovery and the promotion of infrastructure construction and manufacturing development in various countries. As a major steel producing and consuming country, China's export strategy adjustment has far-reaching implications. At the seminar, companies emphasized their overseas market expansion strategies, where effective market forecasting and flexible investment strategies are crucial in the face of shifting consumer markets, supply chain management challenges and changes in international trade policies. Enterprise innovation covers operation management, digital transformation and business model reconstruction, etc. Digital transformation helps steel enterprises to improve efficiency and reduce costs. In addition, capital flows and cross-border investments under the Belt and Road Initiative are affecting the development of the steel industry, and companies need to pay attention to policy risks and market uncertainties in their internationalization.
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