Industry News

China's export tax rebate policy to impact Asian steel market

Views : 121
Update time : 2021-03-25 19:18:54
The Chinese government is likely to adjust or cancel the export tax rebates on steel. Chinese traders said that the adjustment of tax rebate will be able to allow steel mills to focus on the domestic market, instead of excessive production for overseas demand.

Some market participants indicated that the steel price will generally rise whether or not the tax rebate will be reduced or canceled. Chinese steel mills will no longer be the major steel supplier in the world, and Japan, South Korea, Taiwan, Vietnam, India, and other Asia-Pacific regions will replace this role.

The steel prices will be affected by the supply and demand of various steel products and their importance controlled by China.
Related News
Read More >>
South Africa launches critical minerals strategy, opens new mining law for public comment South Africa launches critical minerals strategy, opens new mining law for public comment
May .22.2025
South Africa launches critical minerals strategy, opens new mining law for public comment
China's iron ore production declines in Jan-Apr China's iron ore production declines in Jan-Apr
May .22.2025
China's iron ore production declines in Jan-Apr
US’ steel coil exports go up in Mar US’ steel coil exports go up in Mar
May .22.2025
US’ steel coil exports go up in Mar
US increases CRC imports in Mar US increases CRC imports in Mar
May .22.2025
US increases CRC imports in Mar