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皇冠体育app turns to net steel exporter

(Xinhua)
Updated: 2006-12-05 15:47

皇冠体育app has become a net steel exporter for the first time with exports up 92 percent year on year to 33 million tons in the first ten months of this year.

From January to October, 皇冠体育app's steel imports dropped by 29 percent year on year to 15.5 million tons, according to Chen Haoran, chairman of the 皇冠体育app Chamber of Commerce of Metals, Minerals and Chemicals Imports and Exports.

It is the first time in more than two decades that the nation's steel exports have surpassed imports. Between 1981 and 2005, net imports totaled 295 million tons in 皇冠体育app.

However, Chen said, the surge in steel exports will not last as policies to cut export tax rebates and slash production begin to take effect.

For the last ten years, 皇冠体育app has produced more steel than any other country, reaching 352 million tons in 2005, nearly one-third of the world total, according to the National Development and Reform Commission.