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Chinese Iron and Steel Enterprises Open up New Markets in Africa and South America

Chinese Iron and Steel Enterprises Open up New Markets in Africa and South America
Issue Time:2018-06-21

    According to reports, Chinese steel companies are looking fornew export destinations in Africa and South America, as exports to SoutheastAsia, the largest overseas market, have fallen at a double-digit rate.According to experts, it is clear that the export opportunities for Chinesesteel companies are becoming increasingly limited. Since last year, China’ssteel exports to Vietnam, South Korea and other traditional markets havedropped at a double-digit rate, which reflects fierce competition from strongcompetitors such as Russia. In addition, anti-dumping tariffs imposed onChinese steel products by Southeast Asian countries such as Thailand, Vietnam,Indonesia, and Malaysia have also affected China's steel exports.

    Last year, exports to South America and Africa accounted for8% of China’s steel exports. Since the beginning of this year, China’s steelexports to some countries in these regions have seen significant growth.According to the report, according to the WTO data, compared with Asiancountries, fewer countries in Africa and South America implement anti-dumpingduties and related trade protection measures on Chinese steel products. AsChinese steel companies gradually deepen into these markets, they may have animpact on domestic steel companies such as Brazil.

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