Chinese steelmakers dodge tariffs by exporting steel billets
July 16
Facing rising tariffs on finished steel products, Chinese exporters increased shipments of semi-finished steel billets to countries like Indonesia, Turkey, and Saudi Arabia—which impose no duties on billets. Between January and May, billet exports tripled year-on-year to 4.72 million tons, making up nearly 10% of China’s steel exports during that period. China’s steel industry body has raised concerns and discussions are underway about possibly imposing export taxes on billets.
