Reported 1 day ago
Chinese steelmakers are circumventing tariffs in markets like Indonesia and Turkey by exporting steel billets, semi-finished products that face fewer trade barriers. As a result, China has seen a dramatic increase in steel billet exports, which tripled compared to the previous year, amid rising protectionist measures globally against cheap Chinese steel. Concerns are mounting within China about the surge in lower-value exports, and the China Iron and Steel Association is recommending that the government impose limits on billet exports to encourage the production of higher-value steel products.
Source: YAHOO