SteelOrbis Shanghai
At a routine export coordination meeting held in Beijing today with the participation of the China Iron and Steel Association (CISA), steel mills and exporters, the stance of the National Development Committee (NDRC) and the Ministry of Finance on the issues of steel export rebates and tariffs were discussed.
The CISA stated at the meeting that the NDRC was quite determined to achieve the cancellation of all VAT export rebates for steel products. It added that the NDRC is also calling for the export tariffs for all hot rolled products (whether long or flat) to be increased to 15 percent from the previous five and 10 percent, and for export tariffs for semi-finished products to be raised to 25 percent from the previous 15 percent. These issues were discussed by the participants at the meeting.
Although CISA and the Ministry of Finance are seriously opposed to the NDRC's objective, it is thought that they may yet come around to the NDRC's position on these matters. It is anticipated that new policies which failed to be issued before October will probably be announced within the month of October, as reported by the sources who attended the meeting.