Globalization trend in the world steel trade tends to localize in recent years. 15.Jun 2020

The globalization trend in the world steel trade, which has increased rapidly until 2000, has been showing a localization trend since 2000. In 1975, the share of international trade in total world steel production, which was 22.6%, increased to 39.2% by 2000. After 2000, globalization in the world steel trade was replaced by nationalization / localization, and the share of exports in production fell from 39.2% in 2000 to 25.1% in 2019.

In the world steel trade, the place of globalization left to localization,

- Moving the production facilities to the points where the consumption is and approaching the production where the consumption is done,

- Increased trade disputes and trade wars,

- Rapid publication of protectionist measures,

- Traditional steel importer countries reach their self-sufficient steel production volumes
such elements were cultivated.

Source:Evrimhaber