Chinese steel keeps flooding global market, pushing down prices

Overproduction continues in China despite sluggish demand at home

20240722N steel

China is increasing exports of high-quality products like hot-rolled steel sheets. © Reuters

TOMIO SHIDA, Nikkei senior staff writer

TOKYO -- China's steel exports are soaring as Chinese steelmakers unload excess products on the international market amid sluggish domestic demand, prompting some countries to consider anti-dumping probes.

China exported 53 million tonnes of steel in the first six months of this year, up 24% on the year, with the total for the calendar year likely to approach the record high of 110 million tonnes set in 2015.

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