With Cap SA, the nation's lone steel producer, announcing its decision to close its mills due to fierce competition from Chinese alloy, concerns about the viability of Chile's steel sector have escalated significantly.
In a bid to address this pressing issue, the Chilean lower house of Congress has recently passed eight resolutions, urging President Gabriel Boric to take decisive action to support the struggling steel industry. These resolutions underscore the widespread consensus among lawmakers about the urgency of the situation and the need for immediate intervention.
Economy Minister Nicolas Grau echoed these sentiments before a Senate committee, stressing the importance of implementing stringent anti-dumping measures to level the playing field for domestic steel producers. Additionally, Grau called upon mining companies to demonstrate solidarity and not turn a blind eye to the crisis facing the steel sector.
Highlighting the gravity of the situation, regional authorities and union leaders are scheduled to address lawmakers later this week, providing further insight into the implications of Cap SA's decision to wind down its operations. This forthcoming discussion underscores the critical need for collaborative efforts to devise effective solutions that will safeguard Chile's steel industry from further decline and ensure its long-term sustainability amidst global trade challenges.
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