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Groundless charges
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THE Ministry of Commerce yesterday said accusations of dumping by Chinese steel producers on the global market are groundless.
Spokesman Shen Danyang made the remarks at a press conference when asked to comment on recent anti-dumping measures by some countries against Chinese steel imports.
Imposing curbs on Chinese steel products cannot fundamentally solve overcapacity, which is the common problem confronted by the global steel industry as it undergoes restructuring, said Shen.
He said the price iron ore imports has shrank from US$110 per ton in January-August 2014 to around US$63 per ton during the same period of this year, and has sharply cut the cost of China’s steel products.
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