China unlikely to cancel export rebates to steel products 

China is unlikely to cut export rebates to all steel products, said Luo Bingsheng, vice chairman of the China Iron and Steel Association, at a recent steel industry merger and acquisition forum.

Luo said that the steel export surge in July and August was a special short-term case, and such growth would not last in the following months.

Luo attributed the previous steel export growth to high global demand and insufficient supply.

The global apparent steel consumption from January to July increased four percent, while the global supply (excluding that of China) increased only two percent.

Besides, the price gap between domestic market and international market has stimulated steel export.

At the same time, steel makers were in a rush to export steel products amid concerns about possible policy adjustment.

Luo called on the state not to loosen the control of steel export, but strengthen the control instead.