Part 4/15:
The Canadian steel industry is under severe pressure due to global economic forces, particularly Chinese overproduction and subsidization. According to recent OECD outlooks, over the next few years, the industry will face grim prospects with overcapacity and dumping practices by China, which controls roughly 50% of the market share and subsidizes its steel exports at levels up to ten times higher than OECD countries.
This dumping creates an uneven playing field, making it exceedingly difficult for Canadian companies to compete on the global stage. Despite the trade tensions with the US—especially during the Trump administration with tariffs on steel and aluminum—facing China's subsidized exports remains a core challenge for Canada's steel sector.