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在线翻译:
szdaily -> World Economy -> 
Asia may face steel and aluminum glut
    2018-03-05  08:53    Shenzhen Daily

U.S. President Donald Trump’s plan to slap hefty tariffs on steel and aluminum imports will likely make Southeast Asia the new hunting ground for global exporters seeking buyers, creating a glut that could depress prices and prompt some producers to close.

More of China’s steel may find its way into developing countries such as the Philippines and Vietnam, but it could face competition from Russia, Ukraine and Turkey, industry officials and traders said.

Chinese aluminum exporters, which may take a similar tack, could clash with producers in South Korea and Thailand.

South Korea is the third-biggest steel supplier to the United States after Canada and Brazil and would be the hardest hit by the tariffs. Other Asian suppliers are Japan and India.

China, the world’s biggest steel producer, accounted for only about 2.9 percent of U.S. steel imports, data compiled by Wood Mackenzie showed. The world’s top steel-buying nation, the United States imported a total 35.6 million tons last year.

Some of those Chinese products meant for the United States would go to Southeast Asia, said Roberto Cola, vice president of the ASEAN Iron and Steel Council.

Southeast Asia accounted for about a quarter of China’s steel exports in 2017, Cola said.

Japan and China are two of the biggest Asian exporters of aluminum to the United States, accounting for 11 percent and 14 percent of those countries’ total shipments.

As Chinese aluminum producers look for new export markets, they could offer competition to manufacturers in South Korea, Vietnam and Thailand.

China Hongqiao Group, the world’s biggest aluminum producer, is already looking into the possibility of moving some smelting capacity overseas, mainly to Indonesia.(SD-Agencies)

 

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