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Export tax rebate cancelled for 5 months: why is this year's steel exports so high?

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Update time : 2021-09-25 16:02:10



At the same time, imports showed the opposite situation: In August 20121, China imported 1,063 million tons of steel, down 52.5% year on year, cumulative imports of 9.46 million tons of steel from January to August, down 22.4% year on year.

Data show that from January to August 2021, steel exports in April as the boundary, showing a trend of rising after falling. Exports were 7.974 million tons in April and have since declined month on month. Based on a series of factors such as energy saving, carbon reduction and capacity reduction, the Tariff Commission of The State Council will cancel export tax rebates for some steel products and adjust tariffs for some steel products starting from May 1, 2021.

According to the Tariff Commission of The State Council, the adjustment measures are conducive to reducing import costs, expanding the import of steel resources, supporting domestic production of crude steel, and guiding the steel industry to reduce total energy consumption. But despite this, the export figures are still impressive.

October 11, Lange steel research Center director Wang Guoqing to the economic Observer network analysis that: "The reason for the obvious growth of China's steel exports, mainly lies in the recovery of the global steel demand side faster than the recovery of the production side, which makes the international market tight prices, pulling the overseas demand for Chinese steel.

" Guo-qing wang judgment, with the boom of overseas manufacturing peak, steel demand fell, and overseas steel production is still keep growth situation, the international market price callback, while China's steel exports offer small step back, continue to weaker export price advantage, superposition of China's steel export tariff adjustment and tax rebates cancellation, steel export orders index for 5 months to run within the range of contraction, Later steel exports are expected to continue to fall.

According to data from Dongzheng Derivatives Research Institute, China's steel exports are mainly sheet steel, accounting for 67% of exports in 2020. The main export varieties of sheet steel include hot coil, cold rolling, galvanized and color coating.

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October 25, China Iron and Steel Association held the third quarter information conference. Qu Xiuli, vice chairman of the China Iron and Steel Association, said at the meeting that steel import and export prices had risen sharply due to strong demand in the international market and rising commodity prices.
  From January to September, the average price of steel exports was us $1113.6 / ton, up 35.6% year on year; The average import price was us $1263.6 / ton, up 55.4% year on year. Originally translated from: Securities Times website.