China adjusts steel tariffs again this year

To promote the transformation and upgrading and high-quality development of the steel industry. Approved by the State Council, the Customs Tariff Commission of the State Council issued an announcement on the 29th. Since August 1 this year, the export tariffs on ferrochrome and high-purity pig iron will be appropriately increased. After the adjustment, the export tax rates of 40% and 20% will be implemented respectively.

In addition, according to the announcement jointly issued by the Ministry of Finance and the State Administration of Taxation. Starting from August 1, 2021, my country will also cancel export tax rebates for 23 steel products including rails.

This is the second time my country has adjusted steel tariffs this year. In the first adjustment of tariffs in May, the export tax rebates that retained 23 tax numbers covering major high value-added products were all cancelled this time.

In the first half of this year, China's steel exports increased significantly, with a total of 37.382 million tons of steel exported. This was a year-on-year increase of 30.2% and an increase of 8.6% compared to the same period in 2019. The accumulated imported steel products amounted to 7.349 million tons, a year-on-year increase of 0.1%. The growth of exports was significantly greater than that of imports.

Reducing crude steel output is an important measure to implement my country's carbon peak and carbon neutral goal. Since the beginning of this year, my country's steel consumption has continued to grow. Steel exports have recovered significantly. Drive the high-level operation of steel production. The pressure to reduce carbon