Baosteel Expands Capacity for Exports

Baosteel said it will try to export more than 10 percent of its steel output this year with high-end sheet accounting for a greater part (more than 50 percent).

In the first half of this year, the company exported 40.12 percent of unique and highly competitive products. And 31.17 percent of all of its exports were bound for non-developed nations or junior markets.

China exported 30.93 million tons of steel in the first eight months, an increase of 133.6 percent, and is expected to ship some 40 million tons this year, up 60 percent.

In the first half China's net crude steel exports reached 15.78 million tons and the whole year figure would be 20 million to 25 million tons. An official with China Customs estimated the government is barely likely to further raise tariff in the short term, nor will circulate policies to support steel exports.