The gap between China's steel imports and exports narrowed last year, but analysts say the nation will continue to be a net importer over the next few years. China imported 29.3 million tons of steel products last year, down 7.87 million tons or 21.2% year-on-year, according to statistics released by the China Iron and Steel Association. This was the first year-on-year drop in China's steel product imports over the past six years. In contrast, China's steel product exports leapt 104.6%, or 6.06 million tons, to 14.23 million tons last year from 2003. However, senior officials at the association said China will remain a net steel importer in the years to come. The nation's net steel imports totaled 13.83 million tons last year, down from 36.55 million tons in 2003. China did remain the world's biggest steel importer last year, despite the drop in imports. Steel demand in China rose 13% to 312 million tons last year over 2003.
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