New Wave of Chinese Steel Exports Softening Prices, ArcelorMittal Says

08/01/2024 - ArcelorMittal saw its second-quarter profits fall and said Chinese steel exports have put the market in “unsustainable” territory.

“China’s excess production relative to demand is resulting in very low domestic steel spreads and aggressive exports,” the company said on Thursday, according to the Bloomberg news service. “Steel prices in both Europe and U.S. are below the marginal cost.”

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