China will launch new policies on steel industry in March, which involves more flexible export duty to ensure 15 percent of total steel output for export market.
This plan indicates that Chinese steel export may decline by 50 percent in 2009 and steel makers are facing the hardest time in recent years.
China will take further actions to expand domestic steel consumption especially in construction steels, which is occupying 50 percent of total steel consumption locally.
China will keep current tax level for steels with low grade and profit margin while will impose more attractive tax on highly profitable steels. However, import tax on some steels may be increased by the government in order to protect internal steelmakers. Source: Yieh.com
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Saturday, February 28, 2009
14:36 |
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