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American Focus > Blog > Economy > Chinese steel companies find new tariff workaround: steel billet
Economy

Chinese steel companies find new tariff workaround: steel billet

Last updated: July 18, 2025 5:00 am
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Chinese steel companies find new tariff workaround: steel billet
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Chinese steelmakers are finding ways to bypass tariffs in countries like Indonesia and Turkey by exporting semi-finished products, a move that is causing concerns in Beijing over the surge in lower-value exports. This tactic undermines barriers against a flood of cheap Chinese metal and has led to a protectionist backlash globally, with 38 anti-dumping investigations initiated by various countries since January last year.

In response to the backlash, Chinese exporters are turning to steel billet, which are semi-finished blocks of steel that typically face fewer tariffs. Customs data shows that exports of steel billet between January and May were three times greater than the previous year, reaching a record 4.72 million metric tons, accounting for nearly 10% of all steel exports during the same period.

According to Tomas Gutierrez, head of data at consultancy Kallanish Commodities, Chinese exporters are looking for any opportunity to sell products that are facing tariffs and weak demand domestically. This trend of exporting steel billet started last autumn and continues to grow.

The top five export destinations for steel billet are Indonesia, the Philippines, Saudi Arabia, Italy, and Turkey, as these countries do not have tariffs on steel billet, unlike some finished steel products. This relative lack of trade barriers for steel billet compared to finished steel has fueled the rapid growth in exports, as noted by analysts at Mysteel.

One factor contributing to the demand for steel billet is trans-shipment, where countries in Southeast Asia import Chinese billet, process it, and then re-export it to Europe and the U.S. However, President Donald Trump’s 50% tariffs on steel imports have disrupted parts of this trans-shipment trade by making it less lucrative to ship to the United States.

See also  Donald Trump says 80% tariff on China ‘seems right’ ahead of trade talks

The push for steel exports, whether billet or finished steel, is driven by a weak Chinese economy and a struggling property sector that cannot absorb the excess steel produced by the industry. In response to the surge in billet exports, China’s state-backed industry body, the China Iron and Steel Association (CISA), has advised the government to limit billet exports and focus on higher-value added products.

There are discussions within Beijing about imposing an export tax on steel billet to encourage steelmakers to focus on exporting higher value steel products instead. Details about the potential tax have not been finalized, but sources suggest that the added value for steel billet is significantly lower than for finished steel products.

As the industry navigates these challenges, it remains to be seen how Chinese steelmakers will adapt to changing global trade dynamics and tariffs. The Ministry of Commerce and the CISA have not responded to requests for comment on these developments, but the industry continues to evolve in response to international trade pressures.

TAGGED:billetChinesecompaniesfindSteelTariffWorkaround
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