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China's commerce ministry said allegations of dumping unfounded

According to China's Ministry of Commerce charges against the steel producers of dumping unfounded. The representative of the Ministry said on their groundlessness at the September press conference. Its main theme — restrictions on imports of steel products from China. Recently, there are such measures in many countries. According to the representative of China, their decision does not solve the basic problem of the global steel market. Excess capacity is relevant for China and other countries. So it is necessary to deal with the elimination of the problem together.

Chinese steelmakers have increased export volumes due to lower domestic demand. During the period from January to August inclusive, the amount of exports reached 71.9 million. Tons. The indicator exceeds the result of the same period of 2014 by 26.5%. If we compare with the figures of 2013, the growth rate of 71.2%. The cost of steel of Chinese products in the global market characterized by low prices. Hence the increased demand, and accusations of dumping.

The relatively low cost of Chinese industry representatives say a reduction in ore prices. Over the year and a half of imported raw materials cheaper by almost half. Accordingly, there is no reason for Chinese companies accused of selling products below cost. On the contrary, the Ministry approves and supports the anti-dumping investigation and the participation of national companies. Chinese companies are encouraged to cooperate with competent authorities of other countries. However, the Government intends to organize the defense of their rights by the Chinese steelmakers. Their interests will be respected according to the established rules of the WTO. It should be assumed that the Chinese producers do not remain passive observers of restrictions on their rental. On their part to follow the response.

Earlier, by the CISA issued warnings about the increasing dependence of the industry on the export supply. Export products reduces its stability due to the appearance of foreign trade conflicts. CISA warned about the undesirability of domestic steelmakers selling goods abroad at dumping prices. The critical situation in the Chinese market is no surprise. Reducing the consumption of products in the domestic market has been since 2014. And count on his speedy recovery is not necessary.

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