From May 1 20265438, the import tariffs of some steel products will be adjusted and the zero tariff policy will be implemented. Iron and steel products mainly include pig iron and crude steel, and the implementation of zero tariff will greatly reduce the costs of related companies engaged in import trade. This will affect domestic steel prices because the relationship between supply and demand has changed. With the implementation of zero tariff, there will be more and more products such as steel, crude steel and pig iron on the market, and the supply end may be greater than the demand end. In the domestic futures market in the past two months, the rise of steel prices will be effectively suppressed or even turned down.
Increase the export tax rate of ferrosilicon, ferrochrome and high-purity pig iron!
The adjusted provisional tax rate ranges from15% to 25%. The main purpose of this policy is to reduce domestic steel production by encouraging imports and restraining exports, so as to get rid of the shackles of iron ore and prevent inflation imported from abroad. Regulating the market by adjusting tariffs may depress the steel market price in the short term, especially in the state of unstable mentality during the recent epidemic, but the impact of this policy on the spot price of the market is not particularly great. This kind of news will have a certain impact on the operation of investors in the futures market. It is suggested that futures investors can wait and see in the near future and enter the market after the market has a certain trend.
The purpose of this tariff adjustment
This tariff adjustment is conducive to reducing the import cost of the steel industry, expanding the import channels of steel resources by importing steel from abroad, reducing the domestic steel production and speed, thus reducing the total energy consumption of China's steel industry and accelerating the transformation and upgrading of the steel industry. Because steel is a strategic resource and an important reserve material, many foreign enterprises were unable to start work during the epidemic period, which led to a backlog of stocks in other countries and an urgent need for export. Take advantage of this trade surplus to quickly import steel from other countries to China. Reducing domestic resource consumption and raw material costs, lowering import tariffs and raising export tax rates are very favorable policies.