China’s steel industry will reportedly be prohibited from adding new capacity in 2020 following an 11.2% slump in exports in 2019. Life for China’s producers will also be made more complicated by the phase 1 trade deal with the U.S. that will likely boost Chinese imports of steel. China’s exporters, including Citic and Baosteel, have already faced a tougher U.S. market as a result of section 232 tariffs applied by the Trump administration since March 2018. U.S. imports from China fell by 19.6% year over year in the 12 months to Nov. 30, 2019. Additionally, total U.S. imports dropped 17.5...