Chinese plate export activity plummets on rebate jitters

China’s plate export market was quiet in the past week, with market participants suspending trading in anticipation of a Chinese government announcement on whether the country’s steel export tax rebate would be reduced.

Fastmarkets’ price assessment for April/May shipments of steel heavy plate export, fob China main port was $720 per tonne for the week ended Tuesday March 23, narrowing upward by $10 per tonne from $710-720 per tonne a week earlier.
Most traders said they had stopped offering plate to overseas buyers because word had circulated in the market about a possible announcement about the rebate by the end of this month, and for the new rate to take effect in either April or May.


Miranda Song

March 24, 2021

04:57 GMT