China is doubling down on its export practices and encouraging its steelmakers to fight anti-dumping actions by foreign nations. Alcoa recently won a supply contract for a major smartphone manufacturer.
China Urges Steel Sector to Fight Dumping Actions
Beijing urged Chinese steel companies, collectively the largest in the world, to launch lawsuits to defend themselves against a rising tide of international trade complaints, including those from the US, its commerce ministry said.
“We encourage Chinese steelmakers and related businesses to actively participate in countersuits, and protect their legitimate interests according to World Trade Organization rules,” the ministry said this week.
The ministry’s stance comes as rising Chinese steel exports have run into resistance from competitors at the destinations of its shipments.
Six steelmakers with major US operations, including U.S. Steel Corp. and ArcelorMittal USA, filed a trade complaint on Wednesday seeking punitive tariffs for alleged unfair pricing of imported steel from five countries including China. The suit concerns Chinese exports of corrosion-resistant steel used in the automotive and construction industries.
Samsung Chooses Alcoa
Alcoa Inc. said on Thursday it is supplying aerospace-grade aluminum to Samsung Electronics Co. Ltd. for its Galaxy S6 and S6 edge models, enabling the smartphone maker to produce more durable and sleeker phones.
Phones made with 6013 Alcoa Power Plate, which is 70% stronger than standard aluminum are available now globally, Alcoa said.
This latest announcement fits New York-based Alcoa’s strategy of moving away from costly traditional smelting and refining toward more value-added businesses such as automotive and aerospace.