Since May 1, 2021, China has adjusted some steel products tariffs and export tax rebate rates

In order to better guarantee the supply of iron and steel resources and promote the high-quality development of the iron and steel industry, with the approval of the State Council of China, the Tariff Commission of the State Council recently announced that the tariff and export rebate rate of some iron and steel products will be adjusted from May 1, 2021

The temporary duty rate for pig iron, crude steel, recycled iron and steel raw materials, ferrochrome and other products is zero;

The export tariff of ferrosilicon, ferrochrome, high purity pig iron and other products should be appropriately increased. After the adjustment, 25% export tax rate, 20% temporary export tax rate and 15% temporary export tax rate should be implemented respectively;

The export tax rebate of some steel products will be cancelled, and it will be defined by the export date indicated on the declaration form of export goods.

The above adjustment measures are conducive to reducing the import cost, expanding the import of steel resources, supporting China's domestic reduction of crude steel output, guiding the steel industry to reduce the total energy consumption, and promoting the transformation and upgrading and high-quality development of the steel industry.

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