CISA appeals to strengthen counter trade protectionism

Thursday, 05 Nov 2009

It is reported that China exports of steel products and billets through September have decreased by over 60%YoY while the imports have increased by 37%YoY.

CISA announced at the industry information conference recently that China steel export is heavily impacted by EU and America protectionism and some other countries' antidumping cases.

Mr Luo Bingsheng Vice chairman of China Iron & Steel Association said "Most countries will hike their import taxes once there is an import surge. But China lacks such action."

As per the statistics by CISA, 40% of the total antidumping cases launched by such countries as EU and America are pressed on China. Hence, CISA appealed to relative department to further improve steel export environment plan out flexible export tax policies and impose moderate taxes on imported steel products in the meantime.

On the other hand, the curtain of 2010 iron ore price talk has already been unveiled. Mr Luo said "The two sides may step into real negotiation in December. However, there are already rumors of price increases of 20%, 30% or even 35% amid the market. He said that it is hard to lift iron ore price now. Meanwhile, we should prepare well for the negotiation and unify our attitudes.”

(Sourced from MySteel.net)
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