Steel rebar futures fell to around CNY 3,060 per ton on Friday, a two-week low, after reports that the European Commission plans to impose steep tariffs of 25%–50% on Chinese steel imports and related products in the coming weeks. The measure seeks to limit inflows and protect domestic producers as global overcapacity continues to pressure margins, while Western economies also aim to preserve strategic manufacturing capacity. Meanwhile, top producer China is preparing to curb new capacity to address excess supply and weak prices. Just last month, Beijing ordered major mills to halt production as part of its pledge to tackle overcapacity in the ferrous metals sector.
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