Archive for June, 2009
China raises export rebates
In order to revive the almost non-existent export market for steel the Chinese Ministry of Finance announced yesterday that it will increase the export tax rebate on among others HRC from zero to 9 % with effect from 1st of June 2009. The move comes after weeks of speculation and was very much expected.
Our view is that Chinese products now will return to the international market, albeit on a very limited scale.
