According to the new tax rebate adjustment plan announced by the Ministry of Finance last Friday, since April 1st, the export tax rebate rate for some steel products has increased to 9%-13%. It is understood that the steel products enjoying higher export tax rebates are concentrated in high-end steel products.
It is reported that in 2008, China has adjusted the export tax rebate policy for steel products three times. At present, China's steel products subject to export tariffs mainly include primary products such as pig iron and plain billets, alloy billets and stainless steel, rebar, profiles, hot-rolled sheets and Thick plates, etc., tariff rates 5% -25%. Cold-rolled and other high-value-added products, cast pipes and most stainless steel products enjoy an export tax rebate rate of 5%-13%. The export tax rebate adjustment of steel products is the first adjustment of steel products exported by the country since 2009, and the new export tax rebate policy has not increased the rate of tax rebate for steel export products.
In line with the idea of ​​export tax rebates in December last year adhering to the idea of ​​"further raising the export tax rebate rate for some labor-intensive products," the steel products that enjoyed the policy of increasing export tax rebates implemented the "Implementation Plan for the Adjustment and Revitalization of the Iron and Steel Industry" and its "Detailed Rules". This reflects the need to continue to adhere to the policy direction of controlling the export of low-value-added products with “two high and one capitalâ€, conscientiously implement measures to increase the export tax rebate rate for some steel products, and appropriately increase the export of steel products with high technological content and high added value in due course. Tax refund rate."
Seen from the specific varieties, stainless steel coils, electric steel sheets, alloy steels, and seamless tubes are the main beneficiaries of this adjustment. Exports of sheet metal and tube products have benefited the most.
According to industry sources, steel exports are an important way for China’s steel consumption, which has played an important role in alleviating domestic steel production capacity surplus. Last year, China's total steel production capacity was 581.77 million tons, with exports of 59.18 million tons and imports of 15.39 million tons, and net exports accounted for 7.5% of the total production capacity. Although on December 1 last year, the state lowered the tariff on steel exports for 67 tariff lines, the effect was not obvious. As of the end of February this year, China's cumulative production of steel was 90.34 million tons, while exports only 3.47 million tons, imports 1.95 million tons, and net exports accounted for about 1.7% of total production capacity.
It is reported that China's major steel import and export province - Jiangsu Province, since this year, the apparent shrinkage of steel shipments, some companies may even switch to the phenomenon. Some local companies believe that the current domestic steel prices are relatively high and international competitiveness is not strong.
The personage inside the industry believes that the tax rebate maintained at 9-13% is still not enough to reflect the price advantage of China's steel exports in the international market, and it is not enough to stimulate the enthusiasm of the entire export. Moreover, calls for anti-dumping in markets such as the United States and the European Union have intensified. China's steel export tax rebates will be weakened, and the export situation in the latter period is not optimistic. In the future, the expansion of domestic demand in the domestic market and the control of steel production capacity are effective ways to ease the domestic supply and demand contradiction.
It is reported that in 2008, China has adjusted the export tax rebate policy for steel products three times. At present, China's steel products subject to export tariffs mainly include primary products such as pig iron and plain billets, alloy billets and stainless steel, rebar, profiles, hot-rolled sheets and Thick plates, etc., tariff rates 5% -25%. Cold-rolled and other high-value-added products, cast pipes and most stainless steel products enjoy an export tax rebate rate of 5%-13%. The export tax rebate adjustment of steel products is the first adjustment of steel products exported by the country since 2009, and the new export tax rebate policy has not increased the rate of tax rebate for steel export products.
In line with the idea of ​​export tax rebates in December last year adhering to the idea of ​​"further raising the export tax rebate rate for some labor-intensive products," the steel products that enjoyed the policy of increasing export tax rebates implemented the "Implementation Plan for the Adjustment and Revitalization of the Iron and Steel Industry" and its "Detailed Rules". This reflects the need to continue to adhere to the policy direction of controlling the export of low-value-added products with “two high and one capitalâ€, conscientiously implement measures to increase the export tax rebate rate for some steel products, and appropriately increase the export of steel products with high technological content and high added value in due course. Tax refund rate."
Seen from the specific varieties, stainless steel coils, electric steel sheets, alloy steels, and seamless tubes are the main beneficiaries of this adjustment. Exports of sheet metal and tube products have benefited the most.
According to industry sources, steel exports are an important way for China’s steel consumption, which has played an important role in alleviating domestic steel production capacity surplus. Last year, China's total steel production capacity was 581.77 million tons, with exports of 59.18 million tons and imports of 15.39 million tons, and net exports accounted for 7.5% of the total production capacity. Although on December 1 last year, the state lowered the tariff on steel exports for 67 tariff lines, the effect was not obvious. As of the end of February this year, China's cumulative production of steel was 90.34 million tons, while exports only 3.47 million tons, imports 1.95 million tons, and net exports accounted for about 1.7% of total production capacity.
It is reported that China's major steel import and export province - Jiangsu Province, since this year, the apparent shrinkage of steel shipments, some companies may even switch to the phenomenon. Some local companies believe that the current domestic steel prices are relatively high and international competitiveness is not strong.
The personage inside the industry believes that the tax rebate maintained at 9-13% is still not enough to reflect the price advantage of China's steel exports in the international market, and it is not enough to stimulate the enthusiasm of the entire export. Moreover, calls for anti-dumping in markets such as the United States and the European Union have intensified. China's steel export tax rebates will be weakened, and the export situation in the latter period is not optimistic. In the future, the expansion of domestic demand in the domestic market and the control of steel production capacity are effective ways to ease the domestic supply and demand contradiction.
Horizontal Slurry Pump Co., Ltd. , http://www.nsslurrypump.com