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Steel export tax rebate adjustment schemes of alloy steel "unspoken rule" will be broken

Business agency inquiry of December 24th
China Steel Association said recently, has the steel export tax rebate plan submitted to the Ministry of Finance and other related ministries and commissions, which abolished the export tax rebate for steel containing boron is adjusting the core. But at present, the export volume of steel containing boron accounted for 40% of total exports.
The personage inside course of study on "gold stock" reporters, previously for export tax rebates, steel prices in general in steel added boron is the industry "unspoken rule".
The export tax rebate for fear of cancellation
Recently, the China Steel Association to the media confirmed that, CISA has export tax rebate scheme of steel products reported to the Ministry of Finance and other related ministries and commissions, and ultimately needs to be reported to the approval of the State Council, which cancels boron steel export tax rebate policy is the core of steel export tax rebate policy, plan may be issued in the first half of 2015.
Prior to this, the market rumors that have, in order to prevent the enterprise to continue drilling policy loopholes, the abolition of boron steel export tax rebate policy is a big probability event.
The adjustment will affect the iron and steel enterprise profit and export volume of the export tax rebate policy, especially the export quantity of large enterprises. Analyst Zhang Lin said the analysis to the "gold stock" reporter, if China cancel boron steel export tax rebates, will make such products in the international price competitiveness further loss or weakening, may affect the steel export volume of 2000-3000 million tons of the short term.
2014 steel exports frequently than expected, so the adjustment of export tax rebate policy has been concerned about the market.
The latest customs data show that in 2014 November, China's steel exports 9720000 tons, exports of a single month hit a record high, China's 1-11 month accumulative total export of 83610000 tons of steel, 46.79% growth over the same period. China Steel Association is expected this year, steel exports accounted for about 10% of crude steel production, while in previous years this number only 2% to 3%.
"Securities" reporter noted that, since this year, steel exports average price continued to decline, from January this year to $828.3 / ton in November this year, all the way down to $764.7 / ton. Although the fold in the fall, but the obvious difference at home and abroad or in the export enthusiasm violent stimulate steel enterprises.
Data shows, before the three quarter steel exports an average price of $783 / ton, equivalent to RMB tons of price of about 4700 yuan. In China, the first half focuses on statistical steel enterprises steel sales settlement price fell to 3212 yuan / ton, equivalent to 1.6 yuan per catty.
Alloy steel export "unspoken rule"
At present our country to the Pu steel (refers to carbon steel not containing alloy) abolished export tax rebates, screw steel, wire rod and other common as low value-added of construction steel export tariff rate of 15%, while the export of special alloy steel products can enjoy the corresponding preferential policies of tax cuts. The provisions of the customs tariff, boron content reach 0.0008% and above steel products can be declared according to the alloy steel, the tax rebate rate in 5%-13%.
Therefore, many export enterprises to join the boron element in general steel, make only superficial changes into alloy steel products export, and thus to obtain the export tax rebate. It is understood, enterprise orders quotation is according to the ordinary newspaper, but the customs according to the time of alloy steel report.
Analysts have previously said, Chinese exports of steel, boron steel export volume accounted for 40% of total exports. Zhang Lin on the "securities" reporters, alloy steel containing boron and boron low demand, low cost, per ton of steel costs increase by only a few dollars.
It is reported, the overseas for Chinese boron steel exports, against the constant sound.
South Korea's three biggest steelmaker Pohang iron and steel, iron and steel and iron making modern eastern had in early 4 at the same time position, Chinese boron steel have caused a great impact on the Korean market, make it in a crisis.
According to statistics, by the end of December 10th, foreign to the China steel anti-dumping investigation and eventually ruled that the event has amounted to 115 pieces.
There are people in the industry analysis, the abolition of export tax rebate for steel containing boron, boron steel exports will weaken the price advantage, early may cause manufacturers did not dare orders, export volume fell. But in foreign demand situation, to adapt to the transition period after the end of the final, Chinese steel exports will continue to rise.
The iron and steel stocks yesterday, the overall significant Shadie, the plate fell more than 6%. New steel company limit, Shougang shares, Anyang iron and steel, Valin Iron and steel, Xining special steel, Benxi steel plate, Chongqing iron and steel fell more than 9%, large steel, TISCO stainless, Luyin investment, Maanshan Iron and Steel shares, Hebei iron and steel, Shandong iron and steel and so on more than 8% decline.
(source: Jinling Evening News)

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