Seminar on New Opportunities in Global Steel Trade, Focusing on Export Growth and Corporate Innovation

On February 17, 2025, China Iron & Steel Industry Association (CISIA) held a seminar on the situation of import and export trade of iron and steel products, in which Xiao Lu, Deputy Director General of the Department of Foreign Trade of the Ministry of Commerce (MOFCOM), engaged in an in-depth dialogue with representatives of Baosteel, Anshanshan Iron & Steel, and a number of other enterprises, discussing the future trend of iron and steel trade and the necessity of industry innovation.

2025-02-27

U.S. resumes steel and aluminum tariffs on some trading partners

On the evening of 10 February EST, the United States Government announced the resumption of 232 steel and aluminum tariffs on formerly exempted trading partners and a further increase in import tariffs on aluminum products. This behavior violates multilateral trade rules and WTO rulings, and has an impact on the global supply chain.

2025-02-27

South Korea Considers Imposing Tariffs on Certain Chinese Steel Products

On February 20, the Trade Commission of the Ministry of Industry, Trade and Resources (MITRAB) of South Korea initiated a preliminary investigation into Chinese imports of “carbon and other alloy steel hot rolled steel sheet and plate products” and made a preliminary finding of dumping, proposing provisional anti-dumping duties of between 27.91% and 38.02% on Chinese imports. The preliminary determination was 27.91% for Baosteel, 29.62% for Jiangsu Shagang, 38.02% for Xiangtan Iron & Steel, Sano International and Xiamen International Trade Holdings, and 31.69% for other suppliers in China.

2025-02-27

UK introduces steel industry plan to counter US tariff threat

According to Reuters, as the U.S. imposes tariffs on steel imported into the U.S., the U.K. Department of Business and Trade released a development plan for the steel industry on Feb. 16 that will investigate issues facing the U.K. industry, such as unfair trade practices from other countries, and look at ways to attract and retain talent in the industry in Britain. Britain's business secretary has also said that he will try to persuade the U.S. government to lift tariffs on British steel and aluminum products.

2025-02-27

China's steel exports to the United States

China's direct steel exports to the U.S. in 2024 will be only 890,000 tons, accounting for 0.8% of total exports. In addition to the tariffs imposed by the U.S., there are also anti-dumping duties of different magnitudes on different steel varieties, basically blocking the channels for the vast majority of varieties to be exported to the United States.

2025-02-27

South Korean steel firms consider building plants in the U.S.

South Korea's steel industry is in a state of emergency after U.S. President Donald Trump announced a 25 percent tariff on all steel imports. Some South Korean steelmakers have said they are considering building new steel plants in the U.S. Hyundai Steel is considering a $7 billion investment in the southeastern U.S. to build a steel plant to produce automotive steel sheets.

2025-02-27