China expects the 2006 global iron ore price to return to the level previous to the dramatic price hike. |
If we produce more than the target, the output will exceed demand, which will hurt everybody's interests. |
Last year was a record high for China's steel industry, but the excessive capacity also caused big price fluctuations in the market. |
Such a phenomenon is abnormal. |
Talks are in a tough period. |
The overcapacity problem has provided a very good opportunity to promote restructuring in the steel industry. |
We are aware that our trade rows with other countries are expected to grow with the rapid growth of China's steel exports. We hope to resolve disputes through negotiations. |