Home > News > Content
Chinese Iron And Steel Companies Are Developing New Markets In Africa And South America.
- Jun 25, 2018 -

Chinese steelmakers are looking for new export destinations in Africa and South America as their exports to the country's largest overseas market-south-East Asia-are falling at double-digit rates. Experts say it is clear that China's steel companies are increasingly limited in their export opportunities. China's exports of steel to traditional markets such as Vietnam and South Korea have fallen at double-digit rates since last year, reflecting fierce competition from strong rivals such as Russia.

And the anti-dumping tariffs imposed on Chinese steel products by Southeast Asian countries such as Thailand, Vietnam, Indonesia and Malaysia have also affected China's steel exports. Exports to South America and Africa accounted for 8% of China's steel exports last year, and China has seen significant growth in steel exports to some of those countries this year. According to the WTO data, there are fewer countries in Africa and South America that impose anti-dumping duties on Chinese steel products and related trade protection measures compared with Asian countries.

As Chinese steelmakers get deeper into these markets, they may have a knock-on effect on local companies such as Brazil's steel companies.