China's Ministry of Finance is considering a reduction of the export tax rebate on certain goods, included certain stainless steel products, according to China Securities News, which, however, did not identify its sources.
It is thought that the export tax rebate rate for some aluminum products could be reduced from the current 13 percent to nine percent, while the export tax rebate for stainless steel bars, rods, profiles, wire and other products could be reduced or canceled. The current export tax rebate rate for these stainless steel products is five percent.
Industry insiders estimate that a reduction in the export tax rebate for aluminum products could lead to a tax rebate adjustment for other non-ferrous metals.