China to cancel steel export tax rebates on some steel products from May 1
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Update time : 2021-04-30 16:12:07
According to China's Ministry of Finance's news released yesterday (April 28), China will cancel some steel tax rebates on exports of 146 steel products from May 1.
The rebate of 13% on some steel products, including hot-rolled coil, rebar, wire rod, hot-rolled and cold-rolled sheet, plate, H beams, will be affected and no longer available from May.
The policy covers almost all steel products except cold-rolled coil and hot-dip galvanized coil, which likely because they were considered high value-added products, although market participants thought that these tax rebates may be reduced in later announcements.