Global News Of Note: Chinese Steel Output Drops As India, Mexico Impose New Trade Penalties
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- Mexico has extended anti-dumping measures on imports of coated flat-rolled steel products from China and Taiwan. The duty for China ranges from 22.22 percent to 76.33 percent. It is 22.26 percent to 52.57 percent for products from Taiwan. Click here to read more from SteelOrbis.
- As Reuters reported, India will impose anti-dumping duties on certain steel products from China for the next five years. The Indian government has been monitoring the steel imports after the industry raised concerns about potential dumping by Chinese sellers. From April to July 2023, Reuters said China was the second biggest steel exporter to India, after South Korea. China sold 0.6 million metric tons in India, an increase of 62 percent from the same period a year earlier.
- China’s crude steel output fell 4.8 percent from July 2023 to August 2023. The world’s largest steel producer manufactured 86.41 million metric tons of the metal last month, down from 90.8 million tons produced in July, but up 3.2 percent from the same month in 2022. Reuters has more information here.