It is reported that China Iron & Steel Association is now organizing Chinese major steel mills to take counter-measures against the flood in hot rolled steel products and silicon steel products imports from the US, Russia and EU, source learnt from CISA on November 4th.

An official from International Economic and Trading Corporation, WISCO
said “We have filed a petition to the Ministry of Commerce applying for
anti-dumping and countervailing investigations against the silicon
steel imports from Russia and the US. The company believes they possess
ample evidences that resources from those countries are sold under the
normal prices and have caused actual damages to Chinese industry.”

Overseas steelmakers have largely increased their exports to China this
year especially for those of low grade products, causing evident injure
among Chinese steelmakers.

The statistics of CISA show during January to September, the imports of
common carbon hot rolled coil and sheet were 2.7433 million tonnes up
by 259%YoY the imports of billet were 3.8608 million tonnes up by
2584%YoY, the imports of pig iron ore were 2.7919 million tonnes up by
993%YoY.

Mr Luo Binsheng the vice secretary of CISA said “We have noticed that
some products are sold in China at 30% lower than the normal prices.”

It said that CISA has proposed the government to roll out regulations
in counter-measures against surging steel imports. Insiders said “At
the meanwhile, China’s responsive measures against international trade
protectionism are not strong enough.”

During January to September, China net crude steel exports were 1.3716
million tonnes while the exports in the same period of last year were
39.469 million tonnes. The exports of steel products in January to
September 2009 decreased by 68.26%, while that of imports increased by
36.92% and the situation is unlikely to see evident improvement in the
rest of this year.

Source: MySteel

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