Chinese steel output slowing and Mexico is imposing tariffs on steel tube imports from the US and others.
Steel Production Slowing in China
China’s crude steel output dropped 0.8% in June from a year earlier, government data showed on Wednesday, with demand hit by crawling economic growth there and a property sales slowdown in the world’s top producer.
Average daily output reached 2.298 million metric tons last month, the highest since June last year, according to data from China’s National Bureau of Statistics.
Mexico Places Tariffs on Steel Tubes
Mexico imposed provisional import duties on carbon steel tubing with seams from the US, Spain and India, on Tuesday as it investigates possible dumping. The new measures, announced by the economy ministry, come as Mexico steps up efforts to protect its struggling steel industry.