Further curbs on steel trade seen

China, the world's biggest steel exporter, will introduce further measures to curb steel exports in order to rein in the country's booming exports and ease its trade surplus ahead of official talks with trading partners next month, industry sources said.

The measures could include further tax rebate reductions and an export tax, they said.

Chinese officials will meet counterparts from Japan, South Korea, the European Union and the United States in June, Dow Jones Newswires reported, citing unidentified industry officials.

Maanshan Iron & Steel vice-chairman Gu Zhanggen said such talks would help reduce trade disputes and possibly help steelmakers avoid further anti-dumping investigations or accusations.

China's swelling steel exports have triggered a series of international trade disputes, with some countries preparing to take anti-dumping measures.

So far, 11 countries have launched 27 anti-dumping or anti-subsidy investigations against mainland steelmakers.

China's steel exports in April hit a record 7.16 million tonnes, nearly three times the 2.70 million tonnes exported a year earlier, as mills and traders raced to sell their products overseas before new export policies took effect.