18-08-2021, 07:24 AM
Published: Aug 17, 2021 06:28 PM
China's steel shipments to Australia have dwindled by more than 50 percent in recent months, faster than the country's overall steel export plunge, and the trend is set to further accelerate, as China takes more measures to cut output and restrict exports, industry insiders said.
China's shrinking steel supply, against the backdrop of deteriorating bilateral relations, will likely lead to a steel shortage for the recovering Australian economy, which is about to embark on a massive infrastructure plan, analysts pointed out.
Falling output and exports would also sap China's demand for iron ore, Australia's biggest commodity export to China
......
Considering China's goal of reducing carbon emissions and the relatively low cost of steel production, the chances of additional levies on steel exports are high
......
China has raised the cost of steel exports twice so far this year. The Chinese government revived taxes on steel exports and cut tariffs for ferrous imports from May 1. Also, starting from August 1, China cancelled more rebates of the value-added tax for some steel exporters.
"This will weigh on the economies of a number of countries, including Australia, which relies heavily on steel imports from China,"
......
https://www.globaltimes.cn/page/202108/1231710.shtml
China's steel shipments to Australia have dwindled by more than 50 percent in recent months, faster than the country's overall steel export plunge, and the trend is set to further accelerate, as China takes more measures to cut output and restrict exports, industry insiders said.
China's shrinking steel supply, against the backdrop of deteriorating bilateral relations, will likely lead to a steel shortage for the recovering Australian economy, which is about to embark on a massive infrastructure plan, analysts pointed out.
Falling output and exports would also sap China's demand for iron ore, Australia's biggest commodity export to China
......
Considering China's goal of reducing carbon emissions and the relatively low cost of steel production, the chances of additional levies on steel exports are high
......
China has raised the cost of steel exports twice so far this year. The Chinese government revived taxes on steel exports and cut tariffs for ferrous imports from May 1. Also, starting from August 1, China cancelled more rebates of the value-added tax for some steel exporters.
"This will weigh on the economies of a number of countries, including Australia, which relies heavily on steel imports from China,"
......
https://www.globaltimes.cn/page/202108/1231710.shtml
