Siderperú CEO highlights concerns over Chinese steel exports
Time:Mon, 06 Jan 2025 09:03:50 +0800
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In an interview with Forbes Peru, Marcos Matiello, CEO of Siderperú, expressed concern over the surge in Chinese steel exports, a challenge shared by steel producers worldwide.
Although the situation in Peru has not reached the severity seen in Brazil, where import taxes and quotas have been imposed, Matiello warned of future risks. He highlighted China's excess production, projected to surpass 100 million tons in 2025, primarily targeting export markets due to weak domestic demand.
Siderperú planned to boost its production capacity by 12% in 2025, following a US$20 million investment in upgrading its Chimbote plant’s rolling mills and improving operational efficiency through consulting services.
