China's Ministry of Commerce has issued a new policy for an export licence system on some steel products. It will be effective from 20 May.

It will be required a licence for steel export, and each licence would be valid for three month. The steel products include cold rolled steel plate with carbon content of below 0.25 percent and flat-rolled products with thickness of under 1.5mm.

This move is in order to curb the growing export, said the Ministry of Commerce.

"First companies just need to register for the licenses. It will be a gradual process, but I imagine eventually there will be restrictions" on who may export, said Li Xinchuang, vice president of the China Metallurgical Industry Planning and Research Institute.