Overall, due to the earlier factor of forging documents to meet shipping schedules, the volume of such documents relatively declined this month. However, considering that procurement demand received by steel mills increased in the past two months, SMM predicts that October exports will decline MoM, but the decrease may be limited. Meanwhile, regarding the widely noticed "Announcement on Optimizing Matters Related to Enterprise Income Tax Prepayment Declarations" effective from October 1, SMM survey indicates that no new implementation progress has been reported at northern ports so far, and quotes for forged documents seem to be re-emerging. In southern ports, due to more cumbersome procedures, tax-included exports remain dominant for now. SMM will continue to track further developments.