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The impact of export tax rebate adjustment on the steel industry should not be overestimated

Posted:2021-04-30 10:27:30

In 2020, China's steel export volume was 53.67 million tons, accounting for 5.1% and 6.93% of domestic and foreign crude steel output respectively.

From January to March 2021, 4.29 million tons of steel products were exported, accounting for 24.3% of the total export volume; 13.378 million tons of steel were exported, accounting for 75.7% of the total export volume. The significant reduction of China's steel export volume is bound to boost the domestic and foreign price gap, and then re stimulate China's steel export.

On April 25, 2021, the hot rolling steel prices of the United States, the European Union and the Commonwealth of independent states are 76%, 32% and 9% higher than those of China respectively. If the export tax rebate is cancelled, only the Commonwealth of Independent States will be affected statically.