China produces around 55% of the total world production of steel which means they currently produce just over one billion tpa. While China's population is large at around 1.4 billion people, they represent well less than 20% of the world's population (potential demand). It is logical that that they need to export large volumes of steel. The 95 million tonnes you show is less than 10% of what they produce so not all that significant in the scheme of things.
BHP $100 Target !, page-138
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