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Government discourages iron, steel exports amid lackluster demand

The Chinese government has been discouraging iron and steel exports in the midst of lackluster demand in the global market, the Ministry of Commerce said on Tuesday.

Government discourages iron, steel exports amid lackluster demand

Governmentdiscouragesiron,steelexportsamidlacklusterdemand

TheChinesegovernmenthasbeendiscouragingironandsteelexportsinthemidstoflacklusterdemandintheglobalmarket,theMinistryofCommercesaidonTuesday.

"China'sironandsteeloutputprimarilymeetsdomesticdemand.TheChinesegovernmenthastakenmeasures,suchasincreasingtheexporttariffsonsomeproducts,tocontrolexports,"saidShenDanyang,spokesmanfortheministry.

Shensaidthetaxrefundrateforironandsteelexportsislowerthanthe17percentvalue-addedtaxrate.Thepercentageofexports,Shenadded,isverylowcomparedwithtotaloutput.