China's government has announced to cut export tax rebates on finished steel products and remove some others, and effective from 15 April, according to Iron and Steel Association (CISA).

The tax rebates for some stainless steel products, CRC and some specialty steel will be reduced to 5 percent from 11 percent.

Some other 83 steel products including HRC and CR plate with carbon of less than 0.25 percent will have tax rebate nil from 11 percent.

The rebate for long products such as wire rod and debar will be also abolished from 8 percent.

The cost will be adding by US$35~50/ton for different products, according to estimates from traders.

China's authority will try to reduce export tax rebates for some lower-end steel products to curb growing exports.