Rumors about China's intention to raise the export duty on steel were gradually confirmed. Not only did the State Council of China issue relevant instructions in an executive meeting, but the government is also taking ongoing measures to stabilize prices for wholesale goods.
China was ordered to close some of its blast furnaces last year, but steel production did not drop as expected, which could force the government to finally take other serious measures.
It was rumored that the Chinese government would impose an additional 10% export duty on hot rolled carbon steel coils and hot rolled stainless steel coils, cold rolled coils, wire rod and other raw materials for which goods had just been canceled. 13% discount on export duty. At the same time, the 13% export duty exemption for cold-rolled carbon steel will be canceled.
Recently it was said that the tax rate could rise from 10% to 15% to rule out an unjustified export situation, but the news was not confirmed.
Rumors of increased duties on steel exports in China continue
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Azovpromstal® 24 May 2021 г. 13:01 |
