China's steel exports expected to face major decline amid anti-dumping measures
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Update time : 2024-10-31 16:00:28
According to industry experts, China's steel exports are projected to reach an eight-year high in 2024. However, as countries implement countermeasures and tariffs, the Chinese steel industry is expected to face significant challenges by 2025, leading to a sharp decline in exports.
Taiwan's China Steel Corporation has filed anti-dumping complaints against low-priced hot-rolled steel from China, urging the government to impose anti-dumping duties, which could deter imports. This comes amid fears of high retroactive tariffs affecting importers.
China, the world's largest steel exporter, has seen a substantial increase in exports this year, surpassing 100 million tons. Yet, as anti-dumping measures take effect, forecasts suggest a drop to 96 million tons by 2025, raising concerns over the sustainability of China's steel market and potential bankruptcy risks for manufacturers.