Taiwan's potential blanket ban on Chinese steel triggers fear of ripple effect

SHANGHAI, Apr 9 (SMM) – Taiwan is likely to impose a blanket ban on steel imports from China from May 15 in a bid to see exemption from the US steel tariffs. While Taiwan is not a major steel export destination for China, SMM believes the market should take cautions if other Southeast Asian countries follow suit.

Market talk suggested that sales contracts agreed before April 2 with delivery by May 10 are likely to go ahead. A source at one large steelmaker in east China told SMM its exports to Taiwan have been affected.

If the prohibition takes effect, “imports of steel products from China shall be banned across the board no matter whether it’s for further processing, trading, or consumption,” according to a spokesperson at Taiwan External Trade Development Council last week.

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