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.

"China's iron and steel output primarily meets domestic demand. The Chinese government has taken measures, such as increasing the export tariffs on some products, to control exports," said Shen Danyang, spokesman for the ministry.

Shen said the tax refund rate for iron and steel exports is lower than the 17 percent value-added tax rate. The percentage of exports, Shen added, is very low compared with total output.