SHANGHAI (Scrap Register): Trade frictions in Chinese Steel industry is increasing along with the rise of Steel export of the country.
China's
Steel industry last year faced forty-six trade remedy investigations
which is an increase of 19 from the year earlier. Even the Chinese Steel
industry has been accused of being responsible for the Steel
overcapacity that has gripped the world.
The investigations
against Chinese Steel industry accounts for 46.9% of all the trade
remedy probes in China in 2015.Chinese industry insiders have cited that
rapidly rising exports and the surge of trade protectionism as the real
cause of the simmering trade frictions.
United States and
Europe often carry out trade remedy probes against China. But in the
recent times such investigations are being increasingly brought up by
India, Brazil, Vietnam, Malaysia, Australia, Germany and South Africa.
China exported a total of 112.4 million tons of Steel in 2015, the first
time it reached 100 million tons but it came with an increasing number
of trade frictions. |
