According
to China Iron & Steel Association (CISA), the country's steel exports will
remain high in this year due to low prices and firm demand offset the scrapping
of an export tax rebate on certain products.
Although Chinese government tried hard to control the exports of steel products
to avoid the increasing trade frictions with other countries, such as by
cutting the production capacity and reduce the pollution, collapse in iron ore
prices had in favor of Chinese steelmakers maintain the supply of cheap
products for oversea markets.
China boosted steel exports by around 50% in 2014 to a record high 94 million
tons and Western industry bodies see little sign of a major rationalization of
the industry.
Exports of steel products rose by 41% in the first quarter from a year before
to 25.78 million tons. China's apparent consumption of crude steel dropped by
6.2% to 177 million tons in the first quarter this year against a fall of 4% in
the whole of 2014.
Yieh.com