China considers abolishing all steel export tax rebates - report

China is considering scrapping export tax rebates for all steel products and raising export taxes for some products to 15 or 25 pct, the Beijing News reported, quoting sources close to the matter.

A source was quoted as saying that some officials from the National Development and Reform Commission (NDRC) suggested that China should raise the export tax rate for hot rolled steel from 5 pct to 15 pct, and that for steel billets, from 15 pct to 25 pct.

Among the suggestions that NDRC has yet to decide on was for export tax for steel products, including wire and steel plates, to be raised to 15 pct from 10 pct, the source said.

Tax rebates for the export of cold rolled steel, stainless steel, and silicon steel have now been abolished, the source added.