The Organisation for Economic Co-operation and Development (OECD) states that China’s steel subsidies are distorting global markets and hindering efforts to decarbonise.

China produced over a billion tonnes of steel in 2024, but weak local demand pushed exports to a record 118 million tonnes.

Chinese steelmakers receive five times more subsidies than global peers, making competition unfair, the OECD noted.

Since 2020, steel imports have surged across regions — up 77% in Oceania, 60% in South America, and 40% in North America.

In 2024, 81 antidumping cases were launched globally, with China involved in over a third of them.

Cheap Chinese steel is hindering green investments, and the OECD calls for global co-operation to address market imbalances.

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