China’s Steel Exports Defy Protectionist Wave to Hit Record

China racked up record steel exports in the second quarter, as flows from the world’s top producer defied expectations for volumes to fade under a barrage of trade measures from Asia to Europe.

Shipments of finished steel used in construction to cars and appliances reached 30.7 million tons for the three months from April to June. That’s up 11% from a year earlier and beats the previous quarterly peak during a flood of exports a decade ago. The total first-half tonnage was 9% higher.