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)01/18/2018
|36800YEN (-)||39500YEN (-)|
|327.61US$ (-2.85)||351.64US$ (-3.07)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)