China says anti-dumping measures no solution to global steel overcapacity

China said trade measures were not the solution to global steel overcapacity and urged Canberra to be prudent after Australia slapped anti-dumping duty on some Chinese steel products.

Australia joined a growing list of nations coming down strongly against low-cost Chinese steel last week when it said it would levy anti-dumping duties of between 11.7 percent and 30 percent on screw-thread steel imports from China.

China has been accused of dumping cheap steel after its slowing economy created vast domestic overcapacities, but Beijing has insisted that surplus capacity across the world’s steel industry is a result of anemic global economic recovery and tepid demand.

China is willing to work with other countries to address the concerns and hopes that Australia will treat Chinese companies fairly and reasonably, Xinhua quoted a Chinese commerce ministry official as saying.

 

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