China's cancellation of export tax rebates to raise Taiwan's cold-rolled steel prices

Posted on 05 August 2021

The Chinese government has canceled the export tax rebates of 13% on cold-rolled products and galvanized steel products since August.

Some market participants indicated that the domestic prices of cold-rolled steel products and galvanized steel products should rise immediately due to the cancellation of export tax rebates. However, cold-rolled steel products have indeed risen but galvanized steel products haven’t changed.

Taiwanese government already imposed anti-dumping (AD) duties on Chinese galvanized steel products, so there are not so many Chinese galvanized steel products exports to Taiwan. Therefore, this measure will not impact the Taiwanese market of galvanized steel products.

As things stand, the weather is a major impact on galvanized steel products prices, which is much greater than the Chinese withdrawal of export tax rebates.      

Source : Yieh