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29 Apr
12:39

Tax rebate cancellation lifts Chinese rod export prices

China's wire rod export prices have continued to rise this week, firming after the announcement on Wednesday of the cancellation of rod export tax rebates. On Thursday, Kallanish assessed 6.5mm diameter mesh-grade wire rod at $770/tonne fob China, up by $20/t from a week earlier. Starting from 1 May, Chinese wire rod exporters will no longer enjoy the 13% export tax rebate. The main purpose of the policy announcement is to keep more steel resources in the cou…
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