Baosteel to cut sales to Europe on anti-dumping probes

Baosteel Group Corp, China's biggest steel maker, said it may cut down sales to Europe this year due to anti-dumping probes.

Sales to Europe and Africa are expected to fall to 500,000 metric tons this year, down 38% from 800,000 tons a year earlier, said Zuo Jingui, a top sales official with the company on Tuesday in a Beijing conference, adding that it plans to raise sales to Africa and cut shipments to Europe.

Early last month, The European Union launched anti-dumping probes against Chinese steel exporters, including Baosteel, the fifth time of such probe since last September, which involved up to US$681 million worth of steel products.