Latest news with #SteelMills
South China Morning Post
17-05-2025
- Business
- South China Morning Post
India's manufacturers fear influx of cheap Chinese imports amid US-China trade war fallout
Indian manufacturers are sounding the alarm over a growing influx of low-cost Chinese goods, from yarn and steel to toys and electronics, warning that they are being priced out of their own markets as Beijing redirects more exports away from the United States Despite the US and China agreeing to steep tariff reductions last week, analysts warn that years of trade tensions between the world's two largest economies have already led to a flood of cheap Chinese goods in India and markets elsewhere, leaving local manufacturers struggling to compete. Earlier this month, the South India Spinners Association reported that at least 50 small spinning mills in southern textile hubs like Pallipalayam, Karur, and Tirupur were facing production slowdowns. Many fear further cutbacks are now on the horizon as raw material imports from China, such as yarn, undercut prices in the domestic market. People work at a garment factory in Tirupur, India's Tamil Nadu state, last month. Photo: Reuters The steel sector faces similar challenges. In December, executives from small and medium-sized steel mills, which account for 41 per cent of India's total steel output, revealed that capacity utilisation had plummeted by nearly a third over the previous six months. These mills, unable to match Chinese steel priced US$25 to $50 cheaper per tonne on average, have been forced to scale back operations and consider lay-offs, Reuters reported. The origins of this upheaval can be traced back to the US-China trade war, which began in 2017 during President Donald Trump 's first term and continued under his successor Joe Biden. By 2024, China's share of US non-oil goods imports had fallen by nearly 10 percentage points to 16 per cent, according to a report from financial services group Nomura published in April. However, China's global export share remained near an all-time high of 15 per cent, the report found, reflecting Beijing's efforts to redirect surplus trade towards alternative markets.
Express Tribune
02-03-2025
- Business
- Express Tribune
National Highway blocked for seven hours as Steel Mills employees stage protest
Steel Mills employees staged a protest on the National Highway for over seven hours on Saturday, paralysing traffic and leaving commuters stranded for hours, according to Express News. The demonstration began around 5pm, with workers rallying against dismissals and the suspension of electricity and gas supply to their residential quarters. Both tracks of the highway were blocked, causing severe traffic congestion in surrounding areas. Traffic police diverted vehicles from Port Qasim Chowrangi and FB Area Cut to alternative routes. However, long queues of vehicles remained on nearby roads, creating hardships for commuters. According to a traffic police spokesperson, the protest ended at around 12:30am after negotiations between the workers and authorities. Traffic flow on the highway was later restored. The employees have been demanding the reinstatement of their jobs and restoration of utility services, which were disconnected following the layoffs. Last year in November, Sindh Chief Minister Murad Ali Shah sought assistance from the Russian embassy in reviving Pakistan Steel Mills, proposing the installation of a new plant to strengthen the economy and boost employment. The request was made during a meeting with Russian Ambassador Albert P. Khorev, who was accompanied by Russian Consul General Andrey Fedorov and other officials. Chief Minister Shah emphasised the importance of Pakistan's relationship with Russia, highlighting that a functional steel mill could stabilise the economy and resolve employment issues for mill workers.
