World metallurgy and construction materials news

European steel prices to rise due to cancellation of export incentives in China

Metal supplier
China has canceled the 13% export duty rebate on cold rolled coated steel starting August 1. Europe and the Middle East must rely on imports due to lack of self-sufficiency in cold rolled steel and coated steel products. Without cheap Chinese goods, price increases in the regions are inevitable.
Due to anti-dumping duties, China has exported very little cold rolled and coated steel to the EU in recent years. However, these products compete in the international market. Market participants said the import price will be raised in September as China canceled the tax rebate.


Steel production in China, forecasts for 2021

More attention should be paid to the plan to cut steel production in China in the second half of the year, which will also lead to an increase in world steel prices. Quotes for cold-rolled steel from South Korea and Japan to Europe will surely rise.