The China Iron and Steel Association (CISA) has forecast that China’s finished steel exports will exceed 90 million mt in 2023, which will only be lower than the export volume recorded during the 2014-16 period, while its finished steel imports will likely amount to 7.6 million mt in the given year.
At the same time, the CISA reminded Chinese steelmakers that five countries around the world have launched six trade remedy investigations against Chinese steel products lately and that more trade measures are expected. For instance, at the end of 2023 Mexico announced the imposition of an 80 percent import tariff against steel products from China. In December 2023, the European Commission decided to impose definitive antidumping duties on imports of heavy steel plates from China. Brazil is also taking steps to assess the impact of increased steel imports from China.
The CISA urged steel enterprises to be alert to the risk of increasing trade frictions in the global market.