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Chinese steel importsCNBC
•89% Informative
China 's steel exports will soon hit an eight-year high, before sweeping tariffs sink in and drag down industry in 2025 , industry watchers say.
Producers in China are facing mounting overseas tariffs and weakened domestic demand, while a potential tax crackdown from Beijing looms in the background.
Steel exports have been surging this year and are expected to smash through the 100 million metric ton mark.
China 's production of medium-thick hot-rolled coil fell 5.4% from the prior month in September .
Almost three-quarters of Chinese steel companies reported losses in first six months this year .
Beijing 's possible crackdown on value-added tax could make matters worse for China 's steel industry.
VR Score
93
Informative language
95
Neutral language
57
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formal
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English
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52
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15
Source diversity
11
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