The Ministry of Commerce studies the reduction of some steel export tax rebates

“The document is still on the top. Although no final decision has been made yet, there has been a mad pass between the steel mills.” According to the person familiar with the matter, although domestic large and medium-sized steel companies generally oppose this policy, the possibility of a downward adjustment still exists. Because the purpose of this export tax rebate reduction is to curb domestic steel exports and accelerate the elimination of backward production capacity.

The China Iron and Steel Association (hereinafter referred to as the China Steel Association) has told this reporter that the Steel Association has not received the above news and believes that it is not appropriate to cut export tax rebates at this time.

Zhao Ju, assistant to general manager of Shougang Group's sales company, told this reporter that the thresholds for hot rolled products are higher, mainly from large and medium-sized steel enterprises. Once the export tax rebates are lowered, the export of large and medium-sized steel enterprises will be more difficult.

Zhao Ju said that products such as heat coils are mainly exported to Europe and Asia. If the government takes measures to suppress exports, it will weaken the competitiveness of Chinese steel companies in Asia and Europe. Japanese and South Korean steel companies will follow the trend to further occupy the market.

Several traders believe that if the tax rebate is lowered, China’s export prices may be pushed up according to the normal market conditions, but according to the current international situation, there is little room for export prices to continue to rise; therefore, once the export tax rebate is lowered, it will go against the market. Bring no small impact.

According to the reporter’s understanding, at present, domestic plate export basically enjoys 13% export tax rebate, and 56% of the steel exported from China is such high value-added sheet.

Zhao Ju believes that from the point of view of reducing the export tax rebate, the government should not target the large and medium-sized steel enterprises. "The main forces of eliminating backwardness should be small and medium-sized steel enterprises. The days of large and medium-sized enterprises are already bad, and large and medium-sized enterprises are far better than SMEs in energy conservation and emission reduction."

Another government analyst who supports lowering the export tax rebate indicated that at present, China's iron and steel industry has a large bottleneck in resource constraints such as iron ore and coke, and the steel industry is not suitable for export-oriented; taking measures to restrict domestic steel exports can reduce trade frictions on the one hand. On the other hand, it can reduce the dependence of the steel industry on resources.

According to the raw materials industrial operation report issued by the Ministry of Industry and Information Technology in April, China exported a total of 4.31 million tons of steel products in April, an increase of 205.2% year-on-year. From January to April, it exported a total of 13.02 million tons, a year-on-year increase of 98.8%.

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