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China 鈥榤ore motivated鈥檕ver steel stability
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CHINA yesterday reiterated it “is more motivated” to ensure stable steel prices globally and has discouraged massive exports of steel products.
China’s steel production serves mainly the domestic market, said Shen Danyang, spokesman for the Ministry of Commerce.
“As one of the largest nations producing steel, China is more motivated than others to maintain a stable global steel trading market,” Shen emphasized, adding that China has cut export tax rebates and levied higher tariffs to discourage steel exports and excess production.
For the first five months of this year, steel exports actually fell 22 percentage points from the same period of last year to 6.8 percent.
This shows that China has done its part to ensure a stable steel market, Shen said at a briefing.
China’s steel products were highly competitive, not only boosting the economic development of countries that import them, but also bringing real benefits to downstream users and consumers, he added.
As trade protectionism can only further disrupt the order of international trade, the Chinese government believes that negotiation and cooperation are key to solving steel trade frictions, Shen said.
Over the past several months, the United States and the European Union have been taking anti-dumping actions against China’s exports of steel.
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