Shen Danyang, spokesman for China's Ministry of Commerce (MOC), has stated that the year-on-year increase of 32.7 percent in China's finished steel exports in the January-April period this year was mainly due to increasing demand from the international market, including the US market, and due to the declines in iron ore prices which have reduced the production costs for Chinese finished steel and improved its competitiveness in the global markets.
The MOC official's comments come against the backdrop of increased pressure from US steelmakers for trade measures against finished steel imports from China. According to official US data, finished steel imports from China arriving in the US in the first quarter this year totaled 615,171 mt, rising by 25 percent year on year
Shen Danyang went on to suggest that all trading partners could resolve problems via communication instead of by setting up trade barriers, and that this would help to maintain a good trading environment in the global market.