NEW YORK/LONDON: Steel producers from around the world are trading allegations that rivals are dumping cheap metal on the market, threatening to trigger a series of mini-trade wars.
A darkening outlook for the world economy has led to over-capacity in the steel industry, unleashing beggar-thy-neighbor sales at below production cost from Texas to Thailand, some executives say. Sanctions on Iran and the lack of a recovery in demand from Middle East nations after the Arab Spring, have worsened the strain, cutting off key import markets.
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