[ferro-alloys.com]

  Statistics show that in January and February, China's finished steel exports increased nearly 30% year on year. Due to rising demand, exports are expected to continue to grow in March and April.

  The Chinese government is considering reducing the export tax rebate rate for low-end products such as hot rolling and steel bars from 13% to 9% to curb exports.

  Firstly, China's coronavirus pandemic will not recover until May, which will support China's short-term exports.

  Secondly, China has further tightened its real estate policy and cracked down on illegal credit flowing into the real estate market, which has a negative impact on steel demand.

  At the same time, overseas steel demand is still strong, so China is considering reducing steel export tax rebate to curb exports and indirectly reduce steel production.

• [Editor:Catherine Ren]