Western countries have repeatedly accused China of unfairly subsidizing its aluminum and steel sectors, claiming the country’s excess capacity is swamping global markets.
The World Trade Organization (WTO) said last month that it was unable to get a clear picture of China’s financial support for key industrial sectors due to an “overall lack of transparency”.
With no means of negotiating a multilateral remedy, countries are increasingly turning to unilateral tariffs to protect themselves from the renewed Chinese flood.
Cranking up the volume
China’s production of primary aluminum hit a fresh monthly peak of 3.690 million metric tons in July, according to the International Aluminium Institute.
Output rose 4.9% on a year-on-year basis in the first seven months of 2024 and the collective run-rate reached an annualized 43.5 million tons in July.
The country’s…
