HONG KONG -- Chinese steelmakers are being weighed down by overcapacity and are seeking an escape by expanding exports, earnings reports show, just as U.S. President Joe Biden pushes for higher tariffs on their products.
Materials
China steelmakers show overcapacity strain as U.S. battens import hatches
Worsening earnings push manufacturers to seek new export markets
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A laborer works at a Shandong Iron & Steel Group plant in Jinan, in China's Shandong province: China's steel production far outstrips that of producers elsewhere. © Reuters
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