China will cancel export duties on 23 steel products

From August 1, China will abolish export duty discounts on 23 steel products, including cold rolled carbon and alloy steel (CRC) coils, galvanized, galvanized, coated sheets, sheet metal, electrical steel, steel rails and seamless pipes for oil and gas industry and carbon steel sheets. industry, according to a joint statement by the Chinese Ministry of Finance and the State Tax Administration.

The announcement is dated July 28, but was posted on the Finance Ministry’s website on July 29, two days before it went into effect.

Thus, it confirmed part of the market speculation about China’s intention to remove 13% tax breaks on the export of some steel sheets, such as CRC, but at the same time proved that the other part is not true as China will not introduce Mysteel Global noted that At an industrial event in Shanghai on July 28, delegates continued to hold different views on the possibility of revising China’s steel export duty, as reported in early August, at least until now.

According to the appendix, electrical steel has included both oriented structure products and other products, and seamless pipes are mainly used for oil and gas drilling projects.

23 steel products have HS codes 72091510, 72091590, 72091610, 72091690, 72091710, 72091790, 72091810, 72091890, 72101200, 72103000, 72104900, 72106100, 72251100, 72251900, 72255000, 72259100, 722561900, 72261929 .

Leave a Reply

Your email address will not be published.

You may use these <abbr title="HyperText Markup Language">HTML</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>