China's export rebates hurt steel industry-US Steel

NEW YORK, June 23 (Reuters) - China's recent steps to give more tax rebates to steel exporters will increase Chinese steel exports at the expense of other steelmakers around the world, undermining the global industry, said John Surma, U.S. Steel Chairman and Chief Executive Officer (X.N: Quote, Profile, Research).

Speaking at a steel conference organized by American Metal Market on Tuesday, Surma called on China to comply with World Trade Organization rules.

"We believe China must comply with WTO rules. We believe subsidization seriously undermines the global steel industry," the executive said, adding that recent Chinese export rebates would increase Chinese steel exports.

(Reporting by Steve James; writing by Carole Vaporean; Editing by David Gregorio)