China's Steel Industry Faces 'Winter' As Property Sector Struggles. Export Surge Fuels Global Trade Tensions

China's steel industry is facing significant challenges due to weak demand from the country's struggling property sector. This downturn has led to a substantial decline in steel and iron ore prices, with steel rebar prices down over 20% and iron ore prices dropping more than 28% year-to-date. The industry is described as going through a "winter," with margins for steelmakers increasingly squeezed. As domestic demand remains sluggish, Chinese steel producers ramp exports up, causing tensions in global markets. Several countries have imposed anti-dumping duties on Chinese steel, citing unfair competition.