There had been a concern that exports would drop drastically following Beijing’s decision to control exports in an attempt to avoid increasing trade friction and in doing so, cut output so as to reduce environmental pollution. Also, the government has additionally stepped up on anti-dumping measures and removed the tax rebate exporters had been taking advantage of for boron-added steel.

These actions did influence and slowed growth of the steel exports, but the significant drop in iron ore prices offset the overall effect. With lower prices and a firm international demand, Chinese steelmakers were able to provide overseas markets with a steady supply of cheap products.

“China will continue to export large volumes of steel as the stronger demand from international markets support prices,” the CISA said. “Chinese steel exports will remain competitive and not drop substantially.”