WEEKLY: China’s steel export quiet, import active

Business for Chinese steel exports was quiet last week, with some domestic steel suppliers stopping offering prices. However, market enthusiasm for importing strengthened noticeably, thanks to the continuing surges in domestic prices, industry insiders noted.

“Steel mills now seldom offer prices. They are waiting for a definite answer on tax rebates,” an industry source based in Beijing explained. In recent weeks, widespread rumours have been circulating that China may announce a cut in tax rebates on certain steel exports from April, as Mysteel Global