CISA supports spread in exports

CISA supports spread in exports

According to Luo Bingsheng, vice-chairman of China Iron and Steel Association (CISA), Chinese steel producers should be focused on finding more export destinations, instead of selling to their existing destinations with low prices, in order to avoid dumping charges. The country's steel exports have grown rapidly in South Korea, the United States and the European Union (EU), where there are risks of being accused for unfair dumping. The steel exports to South Korea, the US and the EU accounted for 46 percent of the country's total steel exports in the first half of 2005. According to CISA's estimations China exported 11.6 million tons steel products (up 154 percent year on year) in the first half of this year, and will export up to 22 million tons steel productions in overall 2005. The average steel price in the international market was 9.5 percent higher than China's domestic market at the end of June. Chinese steel exporters have been accused for unfair dumping many times in the past years.