WEEKLY: China steel exports unfazed by zero tax rebate

China’ steel mills and traders have renewed their interest in exporting, lured by the far higher global steel prices that are more than sufficient to cover the difference now that Beijing has removed tax rebates on most of the commercial-grade steel exports since May 1, market sources shared on May 8, a make-up working day in China after the Labour Day holiday over May 1-5.

China’s renewed enthusiasm in steel exports has been within expectation of some global market sources, reasoning that now that the dust on tax rebates settles, robust demand plus much higher prices will be very attractive to the Chinese sellers, as “who will be against making money?”, a U.S.-based steel