China may come up with more restrictions to curb steel exports,
including imposing licenses to export companies, restricting steel
projects in the processing sector, a senior official with the
country's top economic planner said recently.
Restricting steel export will still be the tendency and China
would reduce its steel production to avoid overcapacity, said Hu
Chunli, a senior official with China's National Development and
Reform Commission.
China has already taken six measures to discourage steel export
and export rebates for many steel products had been lowered to zero
while tariff for some steel products also reached 15 percent.
According to the latest statistics released by China Customs,
the country's steel products exports stood at 5.38 million tons in
Aug., down 9.4 percent over last month.
However, in the first eight months, China's steel and steel
billets exports still jumped by 83.8 percent and 10.9 percent to
45.08 million tons and 5.61 million tons.
Strong demand in the international market, high profit of
exporting and weak influence of curbing policies are the main
reasons for the increasing exports.
"As long as the steel export generates more profit, Chinese
enterprises will still expand their exports." Hu said.
Along with the declining investing in the steel sector,
implementation of reducing emission and energy saving and new
curbing policies, steel export will finally go down, he said.
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(Xinhua News Agency September 22, 2007)
