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China may reduce number of steel exporters - Report

By , 2008-03-08 12:00:00

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It is reported that Chinese Ministry of Commerce will enact a regulation to restrict the amount of steel trader and an official forecast that only 200 steel traders or less will be left.

This regulations aims to better the qualification of traders and raise the access threshold of steel grade to 30,000 tonnes per year but it is estimated that about 12,000 qualified traders who engaged in steel import and export nowadays.

If this enactment takes effect, steel export volume would be effectively restrained and also market will be regulated, especially to avoid fierce competition and negative price war.

China¡¯s ministry of commerce encourages small traders to cooperate with big traders and meanwhile will push more rules on market administration to counter the pressure from trade surplus and environmental protection.

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