Steel exporters underprice products as pressure mounts

Manila

AS the world reels from a flood of cheap Chinese steel, other countries including Japan and South Korea are selling products overseas at prices as much as a third lower than in their home markets, according to industry data and officials.

The underpricing by the world's second and third biggest steel exporting countries underscores the pressure facing steelmakers around the globe as the industry grapples with chronic oversupply and sluggish demand.