China’s steel exports climbed in July, continuing a record-breaking run despite growing trade barriers being thrown up by countries concerned about a flood of Chinese exports.
Steel exports in July rose 1.7% from June to 9.84 million metric tons, taking total exports so far this year to 67.98 million tons, data from the General Administration of Customs showed on Thursday. The year-to-date tally is the highest level in records going back to 1990.
The record steel exports from the world’s largest producer have sparked a protectionist backlash globally, with almost 40 countries starting up anti-dumping investigations since January last year. Top trade partners Vietnam and South Korea have imposed tariffs, arguing that their domestic manufacturers are hurt by cheap Chinese steel.
In response, Chinese steelmakers have been turning to exporting semi-finished products, which face fewer tariffs.
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