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Chinese steel companies are exploring new markets in Africa and South America?

2025-02-09
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It was reported that as exports to Southeast Asia, its traditional biggest overseas market, are declining at a double-digit rate, Chinese steel companies are looking for new export destinations in Africa and South America. Experts said it is obvious that export opportunities for Chinese steel companies are becoming increasingly limited. Since last year, China's steel exports to traditional markets such as Vietnam and South Korea have been declining at a double-digit rate, which reflects fierce competition from strong rivals such as Russia. Anti-dumping tariffs imposed by Southeast Asian countries such as Thailand, Vietnam, Indonesia and Malaysia on Chinese steel products have also affected China's steel exports. Last year, exports to South America and Africa accounted for 8 percent of China's steel exports. Since this year, China's steel exports to some countries in the above regions have increased significantly. According to the report, based on WTO data, fewer countries in Africa and South America have imposed anti-dumping taxes and related trade protection measures on Chinese steel products compared to Asian countries. As Chinese steel companies gradually penetrate these markets, it may bring shocks to local enterprises such as steel companies in Brazil.http://www.hnftsteels.com

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