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China’s steel export juggernaut has decelerated, with the country’s innumerable steelmakers focusing on local demand and lapping up domestic margins that have perhaps never been stronger. The result of this increased focus on internal demand has meant relief for steelmaking nations that, prior to 2014, were price makers globally and in their own regions. Turkey is becoming a regional bellwether once more for long products; Russia can set the tone again in the Baltic and Black Seas for flats and semi-finished products. Closer to China, Japan and South Korea’s exporting mills should be feeling more relaxed in regional export — and domestic sales — negotiations now. In the last couple of years, these export-oriented steel markets had become, if not passive observers, then certainly unwilling dependents to China’s export locomotive. In a market based on relationships and familiar connections, regional trade had been more naturally the norm, but this was thoroughly disrupted in the last two years. Since China’s domestic market started to surge —  a process that truly began post-Chinese New Year in March, conditions globally for other exporting nations have returned to pre-2014 norms, albeit with some scars. Regional gains Black Sea export prices for billet, slab and HRC — many of which originate in Russia — have increased by $113-167.50/mt from the end of February to April 22. In EMEA, Russia is most likely to benefit from China’s absence thanks to low production costs and considerable local raw material reserves. Turkey’s exports in Q1 rose 3.2% to 4.3 million mt; sales to North Africa surged 135%, reaching 878,000 mt. Meanwhile, sales to the EU jumped 42% to reach 748,000 mt. Erdemir Group, the only listed large steelmaker in Turkey, reported an 86% rise in exports of flat-rolled steel in Q1, with EU-bound sales quadrupling on year to 127,000 mt. These markets had become export areas China penetrated in the last two years. Italy, for example, imported over one million mt of hot-rolled coil from China last year, 202% more than in 2014. Italy, Spain and Belgium alone accounted for 12% of China’s plate exports. The most surprising fact from last year’s trade activity was that only two from the top-five importers of China-origin steel are South-East and East Asian nations. Compare this to three years ago, when ASEAN nations accounted for the bulk of China export activity and the transformation is staggering. All of...