China's steel exports surged by 102 percent from the previous year to a record-high 4.43 million tons in June, according to latest customs statistics.

 

Customs statistics showed that China's net steel exports amounted to 2.76 million tons in June, up 35.96 percent from May.

 

Meanwhile, the country imported 1.67 million tons of steel in June, a drop of 33.46 percent from the same month a year earlier.

 

From January to June, China exported 10.57 million tons of billet and steel.

 

Analysts of Umetal Net attributed the record figures to an increase in exports before a change of the tax rebate policy in August, said Friday's Economic Information Daily.

 

The analysts warned that China's steel industry, facing increasing anti-dumping charges from other countries, would face "nightmare" consequences if the exports are not brought under control.

 

(Xinhua News Agency July 15, 2006)