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March 14, 2018

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Canadian charges of cheap steel flood dismissed

CHINA yesterday dismissed Canadian accusations that it was flooding global markets with cheap steel, saying overcapacity in the industry was an international problem.

Canadian Prime Minister Justin Trudeau said on Monday that Canada was “very concerned” about actions taken by China and that his country has already taken steps to prevent “dumping.”

But Chinese foreign ministry spokesman Lu Kang responded yesterday that China “has taken practical measures to address the overcapacity in the steel industry and at very great expense.”

“But I should stress that overcapacity of the steel industry is a global issue and cannot be resolved by any single party alone,” Lu told a regular press briefing.

“We hope that all steel-producing countries can make concerted efforts to reduce the capacity of the steel industry. This calls for international cooperation.”


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