Cancellation Of Export Tariffs On Some Steel Products
On the basis of the two increase in the export tax rebate rate in the second half of this year, the state will further increase the export tax rebate rate of some labor-intensive products since December 1, 2008, and the export tariffs of high value-added steel products such as cold rolled sheet, strip, steel wire, large section steel, alloy steel and welded pipe are cancelled. The Ministry of Finance announced yesterday's export tariff adjustment rules, and export tariffs on high value-added steel products were abolished. Analysts say the government's move is aimed at increasing the profit level of domestic steel exports, easing the downward trend of exports and reducing the greater pressure faced by export enterprises.
Abolish tariffs and enhance export competitiveness
According to the specific steel products listed in the tariff cancellation, the products are mainly concentrated in high value-added products, including cold and hot rolled sheet, strip, steel wire, large section steel, alloy steel, welded pipe and so on. The tariff of the above products is different from 5%~15%, and the scheme will be implemented from December 1st.
Zhang Ping, an analyst with joint metal net, said that the abolition of steel export tariffs would help stabilize the current domestic steel export situation and raise the export profitability of enterprises. According to the latest data released by the customs, China exported 4 million 620 thousand tons of steel in October 2008, a sharp decrease of 2 million 50 thousand tons over September. Insiders said that the current domestic steel exports are facing a gradual decline in the trend, the export profits of enterprises have dropped significantly. In the context of the substantial decline in the price of steel in the CIS countries, domestic steel products urgently need to enhance export competitiveness.
Steel market reaction strongly
According to the reporter, despite the recent sharp decline in steel prices in the international market, but the decline is smaller than the domestic market, so the gap between domestic and international steel prices has been widened. But because the CIS countries have substantially reduced the export prices of steel, coupled with their pport advantages to the European Region, the domestic steel exports have a greater impact. Zhang Ping said that the lifting of tariffs could alleviate the pressure faced by export enterprises to a certain extent and stabilize market confidence. But the key to the recovery of export markets is whether the international market demand can be stabilized.
Reporters found from the rules, including long steel products such as rebar, billet and pig iron are not in the scope of the abolition of tariffs, and hot rolled products become the main force. According to the insiders, this is mainly due to the low risk tolerance of hot rolled products, which needs strong support from national policies. Journalist insiders learned that after the news of the abolition of tariffs, the steel trading market reacted strongly. The price of the spot market in Shanghai started to rise yesterday, and the price of the electronic products of the hot-rolled products was close to the limit, which rose by about 190 yuan per ton.
According to the press, the price of the rebar market is about 3400 yuan / ton, while the hot rolled products are about 2800 yuan / ton, but the cost and the added value of the hot rolled products are higher than those of the rebar, and the 600 yuan / ton price inversion is very abnormal. Insiders said that the fourth quarter of this year to next year, the domestic steel production projects are mainly concentrated in the plate, especially hot rolled products, if this part of the demand is not effectively supported, the price is difficult to walk well, will make the steel business become more difficult.
鞋類和機電產品調整幅度或較高
After the news that the state will raise the export tax rebate rate again, mechanical and electrical products and steel products are expected to get a rebate discount which has not been obtained before, while the industry export enterprises think that the tax rebate should be raised to 17% in one place at a time. Do not mention another point or two points.
It is reported that, on the basis of the two increase in the export tax rebate rate in the second half of this year, the export rebate rate of some labor-intensive products, electromechanical products and other products with greater impact will be further increased since December 1, 2008. The total adjustment involved 3770 products, accounting for about 27.9% of the total export products. In addition, the export tariffs on some steel, chemical products and grain will be abolished, the export duties of some chemical fertilizers will be reduced, and the way of taxation should be adjusted, and individual products should be levied or increased.
The textile export tax rebate rate will be adjusted to 17%. At the 104 Canton Fair ended this month, the turnover of textiles and clothing dropped by more than 30%, indicating that exports will face greater difficulties next year. To this end, the China Textile Import and Export Chamber of Commerce has appealed to the state to raise the export rebate rate of textile and clothing to 17%. The export tax rebate rate for electrical and mechanical products is most likely to recover from 13% to 17%. The industry believes that most of the mechanical and electrical products, construction machinery, port machinery, machine tools and other products enjoy 17% of the highest export tax rebate rate, is unlikely to continue to increase. And textile machinery and household appliances and other mechanical and electrical products enjoy the export tax rebate rate of 11%~13%. If there is any adjustment, this part is most likely to be adjusted.
Footwear export enterprises are calling for an increase in the export tax rebate rate of 2%~4%. In the two tax rebate this year, there is no shoe product. Many footwear export enterprises believe that the increase of export tax rebate rate is an important signal released by the state under the current situation of tight international and domestic macro environment, which will greatly enhance the confidence of enterprises and entrepreneurs.
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