Luo Tiejun, deputy minister of China's Ministry of Industry and Information Technology (MIIT), has said that the Chinese steel industry should maintain its export volumes to a certain degree and should actively compete in the international market.
In the first six months of 2010, China exported a total of 23.58 million mt of finished steel, up 152.3 percent year on year, while in July Chinese finished steel exports declined to 4.55 million mt, 1.07 million mt less than June, and market the first decrease since March. According to the data published by China's National Bureau of Statistics, in August China exported 2.8 million mt of finished steel, down 40 percent month on month. As predicted by Mr. Luo, in 2010 Chinese finished steel exports will reach 40 million mt, up 60 percent year on year, but down 30 percent on 2007 and 2008.