China Iron and Steel Industry Association：Iron and steel companies must adjust their export strategies to ensure domestic supply

On May 26, the China Iron and Steel Industry Association issued an industry self-discipline proposal, proposing “adjusting export strategies to ensure domestic supply. Recently, the country has adjusted its steel import and export policy to encourage the export of high value-added products and restrict the export of low-end products. The policy orientation is obvious. Iron and steel enterprises should adjust their export strategies, focus on meeting domestic demand, give full play to the supplementary and adjustment role of import and export, and adapt to the new development pattern of steel import and export.”

Industry insiders believe that if steel export tariffs are implemented, it may at least lead to fundamental changes in the global hot rolled coil market. The upcoming export tariffs will become an important topic in the steel market.

According to sources in the industry, since July 1st, hot rolled coil exporters will have to pay 10%-13% taxes and fees when they sell their products abroad.

A steel trader revealed, “Despite the adoption of a number of measures, China’s steel output has not decreased but increased.

Therefore, the government is not satisfied with this. If export tariffs are implemented, Chinese HRC suppliers There will be little chance to maintain its position in the global market. The abolition of VAT refunds has greatly reduced its flexibility.