Industry worries about prospects of stainless steel exports after China adjusts tax rebate
3 May 2021 16:24 reported by Ana Lee
Recently, China canceled the export tax rebate on steel products, covering almost all of the stainless steel products. The industry has expressed concerns about China's stainless steel exports in the future.
In the short term, the policy may weaken the international competitiveness of China's stainless steel products in the export market, but some steel mills think that the market will return to balance after a while.
The policy may instantly bring negative effects to some stainless steel exporters, and part of the export volume will be forced to be sold domestically.
The new export quotations tend to be bullish. Indonesia, where manufacturing costs are low, might also raise the exporting price. Therefore, it is possible to push up the price of stainless steel in the overall export market. But the actual final impact remains to be seen.
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