By: Reuters | Manila | Published: June 6, 2018 11:05:17 am Workers pack cold rolled steel coil at a steel company in Zhangjiagang, Jiangsu province, China April 27, 2018. REUTERS/Muyu Xu/File Photo Chinese steelmakers are seeking new export destinations in Africa and South America as shipments to their biggest overseas buyers in Southeast Asia fall by double digits, with new US trade actions threatening to kill off some markets entirely. China, the world’s largest maker, consumer and exporter of steel, is finding it has fewer export options. Washington last week imposed hefty tariffs on major steel exporters to the United States — Canada, Mexico and the European Union — prompting retaliatory measures.The global tariffs Washington kicked off in March were mainly aimed at curbing Chinese steel imports, which U.S. steelmakers also believe are being routed through other countries before landing in the United States. Last month, the US Commerce Department slapped heavy import duties on steel products from Vietnam it says originated in China, hitting China’s No. 2 export market after South Korea, and a major outlet for sales by Chinese mills that own warehouses in Vietnam. Vietnam said its steel companies would likely stop buying the metal from China… Read full this story
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