Export tariff readjustment, steel market ushers in a watershed?
Driven by the production restriction policy, the steel market performed eye-catching in July. As of July 31, the hot coil futures price had exceeded the 6100 yuan / ton mark, the rebar futures price was close to 5800 yuan / ton, and the coke futures price was close to 3000 yuan / ton. Driven by the futures market, the spot market generally rose. Taking billet as an example, the price of mainstream billet reached 5270 yuan / ton, with an increase of nearly 300 yuan / ton in July. Overall, the rise has become the main tone of the recent steel market. However, with the adjustment of steel export tariff policy again, this upward trend may usher in a watershed. On July 29, the Tariff Commission of the State Council announced that from August 1, the export tariffs of ferrochromium and high-purity pig iron will be appropriately increased, the export tax rates of 40% and 20% will be implemented respectively after adjustment, and the export tax rebates of 23 kinds of steel products suc...