China steelmakers shift focus to south-east Asia

Peace and Freedom

Producers search for new markets as Beijing curbs domestic output

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China’s steel sector is the largest by output in the world, due mainly to decades of strong domestic demand © Getty

By Emily Feng in Beijing JUNE 23, 2018

Chinese companies have invested billions of dollars in planned steel and coal projects as they chase new markets by shifting production to south-east Asia.

In the past four years, Chinese steel companies have funded 32m tonnes of annual capacity in new steel projects in Indonesia and Malaysia, according to a Financial Times calculation, equivalent to more than 40 per cent of steel consumption in 2016 by the 10 Association of Southeast Asian Nations member states.

Steel has been a contentious commodity as trade tensions flare between Washington and Beijing, with the US imposing global steel tariffs targeted towards what it perceives as cheap Chinese steel flooding global markets.

That, coupled with…

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One Response to China steelmakers shift focus to south-east Asia

  1. tonytran2015 says:

    Without tariffs on steel and aluminium China MAY become the monopoly supplier of steel and aluminium to US Denfense Industry. Do Lefties know that China is a potential adversary to the US?

    Liked by 1 person

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