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Growing Trade Disputes to Curb Growth of Chinese Steel Exports
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This year has seen impressive growth in China’s finished steel exports, with outbound shipments hitting a record high of 22.68 million tonnes in 2Q. However, growing export volumes have also led to rising number of trade disputes. The US, ASEAN, Russia, among others, have launched dozens of anti-dumping and anti-subsidy probes into Chinese steel products this year. Growing trade disputes will curb the growth of Chinese steel exports, but overall exports are still likely to remain high, Shanghai Metals Market’s ferrous branch Steelease foresees.
Falling prices in China’s domestic steel market and a softer yuan have underscored the price advantage of Chinese steel products over those from the Commonwealth of Independent States, serving as positive factors behind Chinese steel exports.
Besides, export rebates in certain product classes and growing demand from the global economic recovery will also allow room for Chinese steel exports to grow, Steelease understands.
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