CONF: China steel sector sees little impact from carbon tax

The carbon-based import tariffs on high-polluting goods including steel backed by the European Commission will only impact China's steel industry in a minor way, despite all the pros and cons, Li Xinchuang, Chairman and Chief Engineer of China Metallurgical Industry Planning and Research Institute, said at the Singapore Iron Ore Forum on May 17.

"Considering the relatively low proportion of China's steel exports in total steel output, the country's No.1 position in the global steelmaking industry and robust domestic steel demand, there'll be limited impact of EU's carbon tariffs on China's steel market," he said. To prevent the risk of carbon leakage and achieve the