China's steel exports hit record levels in 2024, sparking global trade investigations and tariffs.

China's steel exports have surged, reaching record levels in 2024, putting pressure on global prices and leading to trade investigations and tariffs from major importers. The OECD reports that China's steel subsidies distort the market, making it harder for unsubsidized producers to compete. As a result, 19 governments launched 81 antidumping investigations in 2024, a significant increase. The OECD calls for global cooperation to address market imbalances and support decarbonization efforts.