Chile: Steelmakers gearing for action against Chinese rivals

Chile’s steel industry has been threatened by China’s growing rival sector. Chile’s government has announced short-term measures, which will be taken to slow the rise of unfair competition coming from China. Chinese steelmakers face prosecution for Predatory pricing in several nations worldwide, while the Chinese industry now produces 50% of world output. Latin America as a whole, by contrast, produces barely 10%.

“Chinese prices are extremely low. These aren’t market economy prices. It has forced prices to remain low in our country, and led to the closure of many producers” said Chilean Steel Producers’ spokesman Ozzano Huachipato.

The statement concludes with a warning, that a slowdown in China’s domestic industry is likely to bring about a sharp push into the continent. “We must take measures now, or Chile’s steel industry could disappear.”

Source: Economía y Negocios

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