The domestic steel market is consolidating and the ex-factory price of Tangshan Pu billet rose slightly by 20 to 3190. The spot price of the market rose slightly in the early morning, but the overall market inquiry situation was not good. The snail plunged sharply in the late afternoon, the overall offer was loose, and the transaction was light throughout the day.
As for the industry, yesterday evening, the Ministry of Finance issued the "Announcement on Increasing the Export Tax Rebate Rate of Certain Products", and some steel products such as plating and stainless steel raised the export tax rebate rate to 13%. Xu Xiangchun said that increasing export tax rebates would have a certain stimulating effect. However, the spread of the new crown epidemic had a significant negative impact on the global economy and finance, which in turn dragged down steel demand and steel exports. Therefore, it is not appropriate to report too high expectations on the effect of this policy. It is expected that the number of steel exports this year may stop falling and stabilize.
