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China's steel export tariff adjustment

At present, the steel price has reached a new high in the past 10 years, and the general steel products with large quantity and wide range, such as ribbed bar and hot rolled coil, have also reached a stage high, resulting in a sharp rise in the cost of some downstream industries and increased operating pressure. Through this policy adjustment, it is expected to reduce the export of general steel products, thus increasing the supply of domestic steel products in disguised form, which is conducive to restraining the rising steel price under the expectation of limiting production, and maintaining the stable development of the whole industrial chain and even the economy.

Relevant institutions believe that the tax policy adjustment is introduced against the background of the continuous rise of domestic steel and main raw material prices, aiming to curb the continuous rise of domestic bulk commodities. In the short term, this policy adjustment is conducive to restraining the price rise of steel and iron ore, and also paves the way for the coming steel output pressure drop policy; In the medium and long term, it is also conducive to guide the iron and steel industry to reduce the total energy consumption and promote the transformation and upgrading and high-quality development of the industry. Due to the pressure of canceling the export tax rebate policy, it will be a great benefit to the enterprises that produce and export high value-added steel products.