It is reported that in order to curb steel production, Chinese government intends to adjust export rebate rate for the flat steel products from July 1st.

It is expected that the export rebate rate for hot rolled steel products will be reduced from 9% to 0% and the rate for cold rolled and coated steel will be reduced from 13% to 9%. But the information doesn''t indicate whether this adjustment covers long steel products or not.

If the new rate carries out, Chinese export costs will be raised and it will damage its competitive ability. But in the other hand, it is good news for Taiwanese steel exporters.

(Sourced from YIEH.Corp)