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Seminar paper from the year 2016 in the subject Economics - Industrial Economics, grade: 1,0, The FOM University of Applied Sciences, Hamburg, language: English, abstract: What are the consequences of steel tariffs on the Chinese steel industry and its development? Coping with this question a deeper look at the Chinese steel industry is needed. First, this paper will outline the history and examine statistics dealing with the global steel market in order to center the growth and structure of the Chinese steel industry. The second part of this paper highlights tariffs, their function and influence on the market in general and especially on the Chinese steel industry. Finally, derived from previously examined facts, the tariffs’ consequences on the industry are discussed concluding with a future outlook. Since 2014, China is the second largest economy in the world, following the United States of America, comparing the countries’ gross domestic products. China’s steel industry dominates the global steel market, taking nearly half of the world’s production into account. In 2015, the country is the biggest exporter of semi-finished and finished steel products. Latest developments show a lowering and stagnating overall growth in China. This forces higher steel exports and puts pressure on the global steel price, leading to clamours for taxing Chinese steel imports in other countries. The U.S. and European Union (EU) among other countries have already confined tariffs on Chinese steel, aiming to protect their local steel industry.
The majority of Chinese steel has been used to meet domestic demand in China. However, as its steel production continues to grow, overcapacity is becoming a major concern to Chinese industrial policy makers, as well as steelmakers outside China. Although industry statistics indicate that the Chinese steel industry is not export-oriented, its consistently high output keeps U.S. steelmakers concerned that excess Chinese steel might overwhelm the global market once domestic demand is adequately met. These concerns become increasingly acute as the United States and the rest of the world are in the middle of a slow recovery from the economic recession started in December 2007. This book provides an overview of China's steel industry and discusses the issues and implications with regard to the U.S. steel sector.
China currently produces more crude steel than any other country in the world. This book, by an internationally acknowledged expert on the world steel industry, covers all aspects of the steel industry in China. It begins with an outline of the existing steel plants and smaller mills and describes four major mergers in the industry, which indicate a trend toward the consolidation of smaller plants into larger integrated units. Hogan analyzes the major steel markets--including the automotive industry, shipbuilding, appliances, railroads, construction, containers, and oil and gas--in terms of their recent growth, and examines China's raw-materials output. He presents new technologies being developed and used, and discusses the future of the Chinese steel industry. Hogan successfully argues, using historical and current data (much of it difficult to obtain), that one of the centers of recent Chinese industrial strength is its steel industry, which should be watched carefully. Steel industry analysts and scholars of global industry and economics will find this book invaluable.