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[SMM Steel Morning News] the United States will launch an exclusion process for my $300 billion taxable list products.
Oct 23,2019 08:59CST
The content below was translated by Tencent automatically for reference.

Wednesday, 23 October 2019

Breakfast news


Rising factor

1. The United States will initiate an exclusion procedure for my $300 billion tax list products.

The U.S. Department of Commerce has announced that it will start an exclusion process for China's $300 billion tariff list products from Oct. 31. From 31 October 2019 to 31 January 2020, United States stakeholders may apply to the Office of the United States Trade Representative for exclusion, the information to be provided includes the substitutability of the products concerned, whether anti-dumping countervailing duties have been levied, whether they are of strategic significance or are related to industrial policies such as made in China 2025. If the exclusion application is approved, tariffs that have been imposed since 1 September 2019 may be returned retroactively.


2. Further strengthening of production restriction in some areas of Tangshan

On 22 October, the Tangshan Municipal Government issued a Circular on further strengthening the Control measures of production restriction and Emission reduction, requiring that between 15:00 on 23 October and 12:00 on 24 October, the sintering equipment of some enterprises should be stopped completely, and the blast furnace equipment had not been involved for the time being; only vehicles from National five and above are allowed to transport. Among them, the production restriction requirements of iron and steel enterprises are as follows,


Falling factor

1. The industry is still cold in winter, and car companies frequently issue bonds to prepare grain.

Enter October, this year listed on the whole vehicle and parts enterprises bond financing heat is still not diminished. On October 14, Great Wall Motor issued the third issue of ultra-short-term financing notes of 2019 for 2 billion yuan; on October 12, Fuyao Glass was allowed to register 1.5 billion yuan of ultra-short-term financing bonds and 1.5 billion yuan of medium-term notes; on October 10, BAIC Blue Valley successfully issued 1.5 billion yuan of corporate bonds on the Shanghai Stock Exchange. According to statistics, in the first eight months of this year, the total amount of bonds issued by domestic car companies reached 66.4 billion yuan, which has exceeded the total amount of bonds issued last year (66 billion yuan), and then the fever has increased unabated. But even if car companies frequently issue bonds to prepare grain, the current situation of the industry in the cold winter is still difficult to improve.


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