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.

Published

Miranda Song

March 24, 2021

04:57 GMT

Shanghai