China’s steel exports rise again in May; iron ore imports up

China, under pressure to cut overcapacity and criticised for dumping cheap steel in the global market, reported steel exports rose 3.7 percent in May.

Customs data showed that exports rose to 9.42 million tonnes last month from the previous month, as steel mills continued to ship their production overseas.

Iron ore imports rose in May too, as Chinese steelmakers boosted production on rising demand and prices. Data showed iron imports were up by 3.4 percent in May to 86.75 million tonnes from the previous month, the highest since December.

Total steel exports rose 6.4 percent to 46.28 million tonnes in the first five months of the year, according to data from the General Administration of Customs.

China’s hefty exports have been criticsed by several nations, who accuse Beijing of dumping cheap steel in their markets and governmetns have imposed anti-dumping duties on Chinese steel products.

China, which exported a record 112 million tonnes of steel in 2015, has said it was committed to reducing overcapacity but denied

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