Posted on 10 Nov 2008
Luo Bingsheng, Vice Chairman of China Iron& Steel Association (CISA) confirmed that CISA had already put forward proposal of adjusting steel export policy and encouraging exports of high value-added products.
With the slowdown in global economy, Chinese steel mills are witnessing overwhelming production cutbacks, suspension and export decline. Bureau of Industry Injury Investigation under Ministry of Commerce has conducted investigation on the loss of steel industry. Luo proposed to moderately raise export rebates of high value-added products.
Chinese steel mills reveal that steel export orders slump in the 4th quarter and upcoming 1st quarter of 2009, and 10% is regarded as a reasonable proportion that steel export hold in total domestic production.
