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Tax policy is expected to increase the uncertainty of A516 Gr 60 tank steel price

Posted:2021-04-08 15:06:17

The overall trend of A516 Gr 60 tank steel price in the second half of the year may be affected by the implementation of import and export tax policies. It is reported that the state is considering such measures as "reducing the export tax rebate of some steel products", "reducing or abolishing the import tariff of some steel products" and "reducing the value-added tax or income tax of domestic iron ore producers".

Judging from industry feedback, the implementation of this initiative is expected to be very possible. If it is implemented, it will promote the transfer of previously exported steel products to domestic sales and increase domestic supply; some low-end products can be imported to meet domestic demand and reduce production capacity due to low-end production. The amount of carbon emissions generated; domestic iron ore supply may increase due to tax cuts to hedge against iron ore import risks; these chain reactions will bring uncertainty to A516 Gr 60 tank steel price in the second half of the year.