NEWS

China steel exports seen exceeding 100 million tonnes this year

Wednesday, Sep 23, 2015

China's total steel product exports are likely to exceed 100 million tonnes this year, Wang Liqun, the vice-chairman of the China Iron and Steel Association, told reporters on Wednesday.

Foreign markets have provided a lifeline for Chinese steel producers struggling with overcapacity and weak domestic demand.

In the first eight months of the year, product exports reached 71.87 million tonnes, up 26.5 per cent compared to the same period of 2014.

But the surge in exports has raised the risk of anti-dumping measures for low-cost Chinese producers and the state already closed export tax rebate loopholes at the beginning of this year.

Wang said on the sidelines of an industrial conference that the government was now considering making further adjustments to the country's steel product export taxes. He did not give further details.

 

economictimes.indiatimes.com

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