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Analysis-China's steel sector has bigger worries than Biden tariff hike

U.S. President Joe Biden's push to triple tariffs on Chinese steel imports strikes a mostly symbolic blow on an industry facing bigger concerns over faltering local demand and threats of even stronger blowback against China's surging exports. The state-backed China Metallurgical Industry Planning and Research Institute (MPI) forecasts a 1.7% drop in China's steel demand this year, following a 3.3% decline in 2023. While China's steel exports last year climbed more than a th...
United States South Korea Kevin Bai Joe Biden Wood Mackenzie Tony Munroe
Source: yahoo.com

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China Steel Scrap Imports Skyrocket In the First Three Months of 2023_SMM

Imports of steel scrap totalled 166,000 mt in the first three months of 2023, up 230% YoY. With the liberalisation of imports of raw materials for secondary steel from January 1, 2021, scrap steel imports have been increasing steadily. Yet, China's steel scrap imports are at an extremely low level mainly because there are only five customs commodity codes corresponding to the types of steel scrap that can be imported. The import standards for specification and impurity content are stringent...
Republic Of Luo Tiejun Steel Industry Association National Standards Committee China Iron Market Forecast
Source: metal.com

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