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Importing 400 million metric tons of steel would be a massive undertaking in its own right. Currently the largest importer of steel is the US, at less than 30

Importing 400 million metric tons of steel would be a massive undertaking in its own right. Currently the largest importer of steel is the US, at less than 30 million MT. > https://www.statista.com/statistics/650538/leading-steel-importers-globally-sorted-by-country/ https://www.statista.com/statistics/650538/leading-steel-imp... Such a massive import scheme would probably disrupt global steel markets and lead to a price surge, which is not in evidence. If anything, steel prices have decreased over 2024: > https://tradingeconomics.com/commodity/steel https://tradingeconomics.com/commodity/steel So I don't know how much they're using, but I think we can safely rule out that they're really utilizing anything like 1/5 of global annual production.

defrost 2y ago
Again, China. Already importing more than a billion tonnes of raw meterial in order to make steel - they have the logistics to move weight and they're not importing steel they're importing iron ore and metallurgical coal to make it and use it. They're glutting with steel about now and in the near future, their massive city scale housing developments have come to an end and are possibly looking to sell their ongoing production to the Saudi's.