Iron and steel association rejects global blame for glut

The China Iron and Steel Industry Association has rejected international industry claims that a global glut in supplies is the direct result of robust growth in Chinese steel exports.

Wang Liqun, the CISA's vice-chairman, said it strongly disagreed with a joint statement by nine foreign counterparts that claimed the Chinese steel industry "is the predominant global contributor" to the world's steel industry suffering "a crisis of overcapacity".

The rival associations - from countries including the United States, Canada and Brazil - released the statement earlier this month, expressing opposition to China's ongoing trade practices and claiming they had contravened World Trade Organization rules.