China is to remove the tax rebate on 23 products including cold-rolled coil and hot dipped galvanized coil, effective from 1 August
The Ministry of Finance issued a notice on Thursday afternoon to remove the tax rebate on 23 products including cold-rolled coil and hot dipped galvanized coil, effective from 1 August. The previous rebate on CRC and HDG exports was 13%. But market was concerned that possibilities of levying export tax on hot-rolled steel products could not be ruled out and September could be an important timeline for watching any possible changes.