China seen net steel importer in March

摘要

China is likely to switch back to being a net importer of steel products in March after more than three years as a net exporter, as global recession erodes overseas demand, the country's steel industry group said. China, the world's largest steel-making country, is set for an 80 percent drop in steel product exports this year and should show restraint in production, China Iron and Steel Association Secretary General Shan Shanghua said in a speech posted on the group's website, www.chinaisa.org.cn, on Wednesday. "(The export drop) is much worse than a prior forecast for a 50 percent fall," Shan said in the speech, delivered to representatives from the country's major steelmakers last week.