The global steel trade landscape has become increasingly chaotic in 2024, with over 40 new anti-dumping (AD) measures implemented, primarily targeting Chinese steel products.

Countries such as Japan, Turkey, South Africa, and the EU have introduced four major AD measures against hot-rolled steel, with Japan facing 32 cases, including sunset reviews.

These measures have triggered reverse steel flows, redirecting low-cost products to non-steel-producing countries, such as Africa and the Middle East. This shift has intensified price competition and raised concerns about market stability in these regions. Additionally, Japan's steel exports have surged due to limited domestic import controls.

While discussions about import restrictions are anticipated in Japan early next year, implementing such measures faces legal challenges. Without significant reductions in Chinese exports, the global steel trade is unlikely to stabilize soon.