CRS Reports on China's Steel Industry and Its Impact on the U.S.
The Congressional Research Service has issued a report (R41421) entitled, "China’s Steel Industry and Its Impact on the United States: Issues for Congress." This report provides an overview of China’s steel industry which is now the world’s largest steelmaker and steel consumer.
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In 2009, China produced over 567 million tons of crude steel, nearly half of the world’s steel. That was 10 times the U.S. production. 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. The possibility of surplus steel from Chinese steel producers; their alleged questionable, if not illegal, trade practices; and the possibility of Chinese direct investment in the U.S. steel sector are all of major concern to the steelmakers in the United States.