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Iron and steel trade friction Capital output needs to be relaxed

On December 5-6, at a certain international organization symposium held in Paris, France, China's foreign trade policy of 40% tariff on export coke was opposed. As of November, China's exports of steel products encountered anti-dumping, countervailing investigations as many as 8 cases. In this regard, the domestic steel industry calls for relaxing restrictions on capital output and should encourage enterprises to go overseas to seek a safe haven. The Paris-based OECD (Organization for Economic Co-operation and Development) Iron and Steel Committee last week sent a paper entitled "Preliminary Investigation of the Impact of Export of Raw Materials for Iron and Steel Production on Its Impact on the World Steel Industry" to delegates to the participating countries. The report lists the list of countries that impose export restrictions on raw materials for steel production and restricts the types of policies and their impact on the steel industry. In China, export qualification, export quota management and collection of raw materials for steel production such as coke, coking coal, scrap steel and iron alloy are imposed Export tariffs on the list. Seriously, the report serves as a model case for "examining how export restrictions on raw materials affect the world steel industry," by levying a 40% tariff on export coke and a 20% tariff on Indian iron ore exports. The report concludes that China and India respectively impose export tariffs on coke and iron ore, resulting in a corresponding price gap between domestic and foreign prices of these raw materials, distorting domestic and international steel production costs and relative competitiveness. It is calculated that if China and India do not impose export tariffs on these two raw materials, the cost per tonne of steel in the major steel-producing countries should have dropped by 2% -8% (the proportion of declining countries is due to the different proportions of the relevant raw materials in their steel production costs Different), only China's production costs will increase by 3%. The report concludes that as the unreasonable rise in production costs in other countries affected its international competitiveness, which resulted in a decrease in its steel production, only OECD member countries reduced their steel production by 7 million tons / year. In turn, the cost of steel will be distorted in the downstream construction, automobiles, machinery, wire and other industries cost distortions. The report, once thrown out, has been countered by our staff but may still have a negative impact on the trading environment of China's steel and even downstream industries. In fact, as of November this year, China's exports of steel products have newly encountered anti-dumping and anti-subsidy investigations. As a result, as many as eight cases have been filed. Among them, there are two such cases: the White Customs Union of Russia, the United States, Canada, Australia, Indonesia and Brazil. The other one for the Thai Ministry of Commerce announced a few days ago a cold rolled steel plate from China and galvanized, aluminized steel and hot rolled coated boron steel anti-dumping investigations initiated, but so far has not yet seen the contents of the filing. Among the 8 trade frictions mentioned above, both the imported steel products have not only the short-rolled cold-rolled stainless steel seamless pipes and oil pipe sections with small export volume, but also the products with large export volume such as coated plates, color coated plates and welded pipes; Both developed countries such as the United States and Canada, as well as emerging economies such as Thailand, Indonesia and Russia, trade remedy measures have both anti-dumping and anti-dumping and anti-subsidy, which shows that China's steel products export is facing more and more complex situation . It is reported that China Iron and Steel Association December 12 launch of a report recommended the following three measures to deal with the above problems: First, to strengthen internal coordination and avoid trade friction. To achieve orderly exports, from the source control, give full play to the coordination role of the government and the steel industry associations. In response to the problem that trade friction goods mainly impact each other's markets at low prices, the government should actively encourage enterprises to adopt a strategy of winning by quality, jumped from price competition to quality and technology competition, maintained the non-price advantage with their foreign competitors and dispelled the friction in trade Of the mouth, at the same time actively promote the market diversification strategy. The second is to expand foreign investment and cooperation and shift trade frictions. The restrictions on capital output should be relaxed to encourage enterprises to go overseas for distribution, expand foreign economic cooperation and create a coordinated external space. Become a local company, through the contribution of employment, tax, etc., to find a safe haven. Third, improve the mechanism to deal with friction. Domestic steel companies need to set up the Ministry of Justice (most large state-owned enterprises have been set up) and employ external experts to deal with disputes and enhance the ability to respond to defenses. Relevant government departments and the iron and steel industry associations also need to play a more unique role in handling litigation, negotiation, information collection and coordination.
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