According to the report, China’s export of excess steel capacity has severely impacted global steel industries, prompting widespread anti-dumping and anti-subsidy sanctions and forcing China to cut production and limit exports.
Chinese government implemented steel export license controls have reduced exports and production capacity, affecting trends in the Asian steel market.
Export licensing policies are further addressing the issue of overcapacity.
Chinese Ministry of Industry and Information Technology mandates that for every ton of new steel capacity added, at least 1.5 tons of old capacity must be removed since May 18.