Industry News

China’s possible decline in export tax rebate to impact HRC prices

Views : 307
Update time : 2021-04-09 16:38:59
It was rumored that China will decrease its export tax rebate on steel products; however, the policy hasn’t been finalized. Market participants said that the adjustment of the export tax rebate was likely to be implemented in May, and the steel market prices were expected to rise accordingly.

According to market participants, if the export tax rebate on hot-rolled steel is reduced from 13% to 9%, the competitiveness of the companies that have been selling at low prices will indeed decline, especially for the export in surrounding areas. 30% of the export will be impacted, which is about 1.4 million to 1.8 million tons per year.

If the export tax rebate is cut from 13% to 0%, most of the export business will be affected, with an overall impact of above 90% and an annual impact of 7 million to 7.5 million tons. Therefore, China’s hot-rolled steel prices will surge due to the policy.
Related News
Read More >>
US aluminium trade trends down with imports dampened by 12% in February 2025 US aluminium trade trends down with imports dampened by 12% in February 2025
May .09.2025
US aluminium trade trends down with imports dampened by 12% in February 2025
Geneva to host the world’s most expensive conversation between China and US Geneva to host the world’s most expensive conversation between China and US
May .09.2025
Geneva to host the world’s most expensive conversation between China and US
Expectations of weakening market demand grow stronger, with short-term domestic aluminium prices expected to fluctuate considerably Expectations of weakening market demand grow stronger, with short-term domestic aluminium prices expected to fluctuate considerably
May .09.2025
Expectations of weakening market demand grow stronger, with short-term domestic aluminium prices expected to fluctuate considerably
India launches aluminium recycling portal amid circular economy push and global trade shifts India launches aluminium recycling portal amid circular economy push and global trade shifts
May .09.2025
India launches aluminium recycling portal amid circular economy push and global trade shifts