Traders downplay impact of China’s higher export rebate for HRC

摘要

A 1% increase in China’s export rebate rate for hot-rolled coil will have a minimal impact on the spot market, traders in the country told Fastmarkets on Thursday November 1.The increase in the export rebate for HRC, from 9% to 10%, is just one of 3,449 product rebates announced by China’s State Administration of Taxation on Thursday.Existing 9% rebates were increased to 10% and for products with a 13% rate, the export rebate was increased to 16%. The list of products is in addition to the one issued by the Ministry of Finance in September.