On March 24, Wang Liqun, vice-chairman of the China Iron and Steel Association (CISA), stated during the 14th International Steel Market and Trade Conference held in Foshan, Guangdong Province that in the January-February period this year China’s finished steel exports amounted to 17.85 million mt, down 1.3 percent year on year, constituting the first year-on-year decline in recent years. He said he expects China’s finished steel exports to indicate a further decline in the March-May period this year due to more antidumping and countervailing cases being initiated against Chinese finished steel exports.
In addition, he pointed out that China has decided to cut its excess crude steel output capacity by 100-150 million mt during the the country’s 13th Five-Year Plan period (2016-2020), while he also said he hoped that the international market would show understanding and allow sufficient time for China’s reduction of excess capacity.