It is reported that CISA is reported to have held a production and management meeting for a part of executive director companies on March 13th.

CISA suggested all the present enterprises at the meeting to limit their production so as to keep steel price and standardize the market competition order. At the meantime, the association confirmed that it had already submitted a proposal to relevant department on lifting steel export rebate.

The association forecasted China's crude steel output in 2009 would not break 460 million tonnes while the apparent consumption would go at 430 million tonnes.

Mr Shan Shanghua noted that China was in dire need of steel export policy adjustment as its export had lost the competitive edge due to the appreciation of CNY.

Shanghai Securities News learned from some well-informed source that the proposal on lifting steel export refund by CISA had been handed over to related department.

In addition, CISA also suggested relative department to take anti-dumping investigation to restrain import.

Further more, CISA required all enterprises to insist on reasonable steel price and high quality principles; on the other hand, set themselves against steel dumping with lower price than the cost. Steelmakers were encouraged to build cooperative system with trading enterprises.

Shanghai Securities News

Friday, 20 Mar 2009

Source: steelguru.com