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Steel association defends export growth
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CHINA isn’t seeking to boost its steel exports, a trade group said yesterday in a bid to ease concerns the country is dumping products due to a domestic supply glut.
Exports have been rising, however. Last year, Chinese firms sold 112 million tons on overseas markets, a rise of 20 percent from 2014.
“The government has adopted a series of measures to curb the trend,” China Iron and Steel Association said in a report, citing export duties and lower tax rebate rates for some products.
The CISA attributes the export surge mainly to increasing demand following the global economic recovery and improvement in Chinese products.
Weighed on by a slowdown in the broader economy, China’s steel industry is being squeezed by serious overcapacity at home and anti-dumping investigations abroad.
More efforts have been made by the government to downsize the industry, but the situation remains challenging.
Meanwhile, the United States and Europe have launched probes or imposed exorbitant tariffs on Chinese steel using methods that, China has argued, violated rules of the World Trade Organization.
The CISA said it is willing to resolve trade friction but will “resolutely fight protectionism and oppose politicizing the steel trade issue.”
Despite its economic woes, China remains the world’s largest steel producer and consumer.
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