What Impact on China’s Steel Exports after Export Rebate Removal? Steelease Surveys

SHANGHAI, Jan. 5 (SMM) – China announced on the last day of 2014 to remove export rebate taxes on boron-added steel products under 4 HS codes from Jan 1, 2015. 

Any big impact will be felt on China’s exports of steel products? 

Exports of boron-containing steel products involved in this round of tax adjustment roughly account for 30.9% of China’s total steel exports. 

Outbound shipments of those boron-containing long products will be affected in January and February, but any impact is expected to disappear in March, Steelease foresees. 

Domestic steel mills have shifted to chromium (Cr) in replacement for boron, according to Steelease survey.  

“We still have a small share of boron-added steel products for exports, and will employ other alloys for production,” one Hebei-based steel mill told Steelease.  

As boron-added hot rolled steel coil is not included in this round of adjustment, steel mills will export products in the form of coils, they said.