In May 2024, China's steel exports reached 9.631 million tons, up 4.4% from the previous month and 15.3% from the previous year, but the average export price fell 15% year-on-year to US$783.7/ton. Analysts believe that the high export growth is mainly due to the concentrated fulfillment of orders from February to March, the early customs declaration of enterprises for policy changes, and the price advantage of Chinese steel (such as the price of hot-rolled coil is 30 US dollars/ton lower than that of India, Turkey, etc.). However, trade frictions have intensified, and 9 new trade relief investigations against Chinese steel have been launched this year, exceeding the total in 2022-2023. The China Iron and Steel Association is promoting the restoration of export tax rebates for high-end products to optimize the export structure and cope with international investigation pressure.