07
Dec
00:00
Ten-month Polish steel output up 7%, VAT change drastically affects rebar trade balance
Polish crude steel production increased 7% year-on-year in January-October to 7.16 million tonnes. Exports in this period declined 5% to 3.72mt, while imports grew 19% to 6.89mt, Kallanish learns.
Developments in rebar trade this year best show the effect of Poland’s implementation in October 2013 of a reverse charge mechanism. This shifted the obligation for paying VAT to the final buyer of product, rather than the seller. Fraudsters selling steel had…
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Anonymous
Very good overview of the weekly steel market.
Anonymous