'The 10th Korea-China Steel Conference' focused to trade imbalance issue

摘要

Korean and Chinese steel firms had 'the 10th Korea-China Steel Conference' on 7th June at Merriott Hotel in Seoul. The conference was focused to the severe steel trade imbalance between two countries. The Chinese side said that the imbalance during January till April was attributed to a temporary rush of shipment before removing VAT refund, asking Korean side to watch the import trend in June and afterwards. Chinese side explained that, once the VAT refund is removed and the export tax is levied, Chinese export price will go up, forcing the overseas shipment to decrease.