Steel industry to meet the heavy policy. The Tariff Commission of The State Council has adjusted tariffs on some steel products since May 1, according to the Website of the Ministry of Finance. At the same time, the Ministry of Finance and the State Administration of Taxation issued a notice on the cancellation of export tax rebates for some steel products. The analysis shows that in order to make up for the supply gap caused by the decline of domestic crude steel production, the country cancelled the export tax rebate policy of some steel varieties. China exports 60-70 million tons of steel a year, and the removal of tax rebates could cause more than half of the steel to be repatriated, or cool the steel market. Some steel products adjust tariffs and cancel The State Council Tariff Commission “on the […]