China may impose additional export taxes on some steel products from May
Recently, it has been reported in the Chinese market that officials plan to impose additional export tariffs on some steel products in May, and strictly prohibit export tax evasion and other illegal activities.
According to market participants, some trading companies are being cautious and suspending offers at present. Therefore, Chinese suppliers currently add a statement on sales contracts for billet.
If the order is not delivered as scheduled, the transaction will be cancelled. Trading companies advised that Chinese officials have indeed investigated illegal sales practices and received orders at low prices, because they harm China's image.
Taiwanese buyers mentioned they can only wait and see actual policies by the Chinese authority before making any future purchases.
