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Chinese steel may be forced to retreat from the US market      [2018-04-23]

China was the second-largest source of imports of steel and aluminum products into the US in 2017, second to Canada but above Mexico. With new steel tariffs imposed by the US, Chinese and ASEAN steel is becoming more expensive in the US. Chinese steel may be forced to retreat from the US market, meaning around 1 million mt would be redirected to Asia. This can be seen in steel data from 2017 showing total US imports of 34.6 million mt, in of which China accounts for only 2%, or 881,000 mt. This is equivalent to just over 1% of China’s total exports of 75 million mt in 2017. However, when we look at Chinese exports of not only finished steel but all items manufactured from steel and aluminium, such as pipes, tubes, sheet piling, tanks, drums, fabricated sections, nails, cables and even barbed wire, the impact is far greater.


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