Steel chain reaction

Following complaints against the Chinese steel company Shanxi Taigan, a stainless steel manufacturer, Beijing began to analyze the import of stainless steel sheets in the local market. Local producers complain that foreign products are destroying local producers.

Early estimates say this is about $ 1.3 billion. Its suppliers to the Chinese market are manufacturers from Japan, the countries of the European Union, Indonesia and South Korea.

China produces and consumes about half of the world's stainless steel.

According to analysts, the Chinese move is dictated by the deteriorating situation of Chinese factories, which is the result of a trade war with the United States. The Donald Trump administration has imposed high tariffs on a range of Chinese products, including stainless steel.