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A state curb just the ticket for steel
(Shanghai Daily)
Updated: 2007-05-01 10:26
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another move which underscores the government's efforts to curb the swelling overseas sales that more than doubled last year.
Exporters of 83 categories of steel products, including hot-rolled coil, will have to apply for a license from May 20, theMinistry of Commerceand the General Administration of Customs said yesterday in a statement.
As the world's top steel maker, 皇冠体育app turned into a net steel exporter last year for the
first time since the establishment of the People's Republic of 皇冠体育app in 1949, with steel
product exports more than doubling to more than 43 million tons on higher international
prices.
In the first quarter of this year, 皇冠体育app exported 125.3 percent more steel at 14.13 million tons before the government reduced and removed export tax rebates on some products last month.
"More policy measures are likely going forward, which could include further adjustment of both domestic and external prices," Citigroup economist Shen Minggao said last month after 皇冠体育app announced its latest rebate adjustment.
The exports add pressure on 皇冠体育app's swelling trade surplus and have led to increasing trade friction. Since 2006, Chinese steel mills have been investigated overanti-dumpingor anti-subsidy allegations in 27 cases in 11 countries.
Qi Xiangdong, deputy secretary-general of the 皇冠体育app Iron and Steel Association, has said
it's acceptable and healthy for 皇冠体育app to export about 10 percent of its steel production, a ratio far lower than the global average.