Russian steel deliveries to Chinese market

Russia will insist on holding consultations with China on limited Russian steel deliveries to the Chinese market as quickly as possible, a source in the Russian Ministry for Economic Development and Trade told RIA Novosti.

Beijing is currently hosting hearings of a special committee of the Chinese Foreign Trade and Foreign Economic Cooperation Ministry, which intends to introduce antidumping measures on steel import late in November.

The main argument of the Chinese side is an allegedly excessive presence of steel import, including Russian steel import, at the Chinese market, said the sources in the Russian Ministry for Economic Development and Trade.

Earlier, the Russian Ministry for Economic Development and Trade sent an official letter to the Chinese Trade Ministry, stressing the fact that Russia's metallurgic export did not do any harm to the Chinese domestic market. Moreover, the Chinese steel market will suffer no losses in any case as the share of import steel there does not exceed 10 per cent, the ministerial sources pointed.

China's tough resolution is connected with the Chinese Steel Association proposal to take measures, such as antidumping, against steel imports, including those from Russia, say the ministerial sources.

However, the Ministry believes that China can take a more balanced stand on steel import, under the intensive pressure on the part of the World Trade Organisation.

The objective of the consultations with China, initiated by the Russian side, is to make China reconsider its resolutions concerning steel import, taking into account Russia's interests, state the sources in the Russian Ministry for Economic Development and Trade.