From the above article we can easily understand that China is dumping it's surplus into the countries where there is high demand for steel and the industries that are producing steel at a considerate high price than China.

To your question part A who is harmed by this action?

The mentioned countries INDIA, ITALY , SOUTH KOREA, TAIWAN are most vulnerable becuase all these nations are developing nations where demand for infrastructure at a cheap rate is high. These countries haven't applied the extra duties like the European Union and United States of America has done in order to curb the surplus export by China that deteriorates their home economy.

And part B of your question...who might benefit?

The biggest beneficiary is the producer country that is exporting it's scrap metal that may have zero value in due course of time. Also the producers in China get benefit becuase they are getting at least the production charges without any duty on exports. The other countries that buy this scrap for China but a valuable asset to developing coutcount where no social welfare schemes are initiated due to their developing status. The industrialists in developing countries also benefit from the surplus export from China at low cost, they use it and mould it accordingly and earn huge margins.

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