In 2015, China remained in first place in the top steel producers

China has remained at the top of steel producers, and produces half of the world’s steel, exporting a record 112 million tons last year, equivalent to the steel production of North America. This fact displeased the commercial partners who claim that it practices a policy of dumping on world markets.

According to Reuters, European Union officials have asked China to take measures to reduce the excess capacity of its steel industry. And he warned that it will open three new anti-dumping investigations this month. Being related to steel imports from China.

The European Commissioner for Trade, Cecilia Malmstrom wrote a letter to the Chinese Minister of Commerce, Gao Hucheng. Saying that he welcomes the Chinese plans to reduce steel production. But adding that they would need to be translated into concrete actions.

ArcelorMittal is at the top of the steel producers, being the largest steel producer in the world and declared: „2015 was a very difficult year for the steel and mining industry. Although demand in our core markets remained strong, prices deteriorated significantly during the year. As a result of overcapacity in China.”

ArcelorMittal is a multinational company, based in Luxembourg, and the largest steel producer in the world. With Lakshmi Mittal as president and CEO, the company has 310,000 employees in 60 countries. The company was created in May 2006 through the merger between Mittal Steel and Arcelor.

Article source: http://www.cnbc.com/2016/02/05/reuters-america-eu-trade-chief-urges-china-to-cut-steel-overcapacity.html