Chinese government said at private and governmental steel talk with Japan in Tokyo China will control the steel export by reducing existing 11% tax return for steel products export to between 5-11%. China tries to reduce steel export by reducing incentive when China increases steel output and export with recovering Asian steel price. China reduced tax return from 13% to 11% on May 1, 2005. The government considers reducing the return to between 5-11%. However, China didn’t refer to when it reduce the return.
Japan Steel Scrap Composite Prices (Sangyo Press)04/19/2018
|32800YEN (-)||36800YEN (-)|
|302.33US$ (-0.81)||339.2US$ (-0.91)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)