Price War in Electric Vehicle Sector Hurts Chinese Steelmakers

Post Views: 427 China EV Steelmakers The Impact of Price Wars on Steelmakers in China The ongoing price war in China’s electric vehicle (EV) industry is having a significant impact on the country’s steelmakers. As automakers compete to lower prices, steelmakers are feeling the pressure. According to the China Iron and Steel Association (CISA), the fierce competition in the EV sector is deepening financial challenges for steel manufacturers. Some automotive companies are demanding more than a 10% reduction in the cost of steel sheets. This, combined with delayed payments of up to se...