China's steel exports are projected to exceed the 2015 record of 110 million tons, reaching over 111 million tons in 2024, a 23% increase year-on-year. By November, shipments had already totaled 101.2 million tons, reflecting a 12% rise from the previous year's total of 90.3 million tons. This surge is attributed to a weakening domestic market, particularly in the construction sector, prompting steelmakers to export surplus products at competitive prices. Chinese steel is estimated to be 10-20% cheaper than that of competitors, leading to increased market share overseas and prompting protective measures from other countries against price dumping.