Chinese steel exports encounter opposition
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Wuhan Commerce Management Bureau based in the Chinese province of Hubei has stated that in 2011 Chinese steel producers have faced increasing trade action from abroad. To date, local steel producer Wuhan Iron and Steel Company (WISCO) has encountered four antidumping investigations in the current year, covering products with an aggregate value of $51.92 million. Market insiders also expect that Chinese steel exports will come up against more severe opposition in the coming period.
The Argentine government has warned that Chinese steel imports are causing damage to domestic industry. The South Korean government has also suggested domestic market players should keep an eye on Chinese steel imports which have been increasing rapidly. In the first half of 2011, China exported 5.61 million mt of steel to South Korea, accounting for 23 percent of total Chinese steel exports.