The global steel industry has bottomed out
As an important consulting agency South Korean steel industry, Pohang Research Institute (Posri) recently warned in 2015, demand China steel downturn will make South Korean steel industry faces more severe challenges. Release Pohang Institute report points out, 2014 China economic slowdown caused by the decline in demand for steel have great influence on the global iron and steel industry, the impact will be continued until 2015, and triggered a chain reaction may be more intense.
In 2014, modern Steel Corp and East China Steel Company’s appeal, the Korea Fair Trade Commission anti-dumping investigation on imported from Chinese H type steel, South Korean steel mills that the margin of dumping China producing H type steel is 21.6%. South Korea initially identified China H type steel dumping and anti-dumping tax rate, estimated to be set at 17.69%-32.72%. Statistics of Korea iron and Steel Association shows, 2014 1-11 month Chinese quantities exported to Korea reinforced a substantial growth of 96% to 512900 T, so South Korea next may in anti-dumping investigations into imports from reinforced Chinese.
Pohang Research Institute said, China steel overcapacity and falling demand for steel is the main cause of China steel exports surge. Although Pohang Institute did not respond directly Chinese steel exports surge problem, but think Chinese steel over investment is the main cause of excess capacity, and the results of surplus production is the crude steel output in a country of over consumption, lead to market oversupply, it is because of excess supply led to the increase in steel exports. The Pohang Institute also pointed out, in 2013 China domestic steel supply excess capacity is 50300000 T, through in overseas investment way to increase the export of steel can effectively avoid trade friction problem. Pohang Research Institute of suggestions China steel to Japan and South Korea peer learning, accelerate the new downstream steel processing enterprises in the overseas to increase exports, in this regard China iron and steel enterprises do not go far enough.
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