Export tax rebate rate falls to zero steel colored "hurt"

22 may, the Ministry of Finance issued on 406 products implementing cancel the export tax rebate policy of notification, strong industry response. Long-term commitment to the export of China Minmetals Chamber of Commerce Vice President Liu Yi nan in national business news exclusive interview with the associated itself with the comments. He said, MINMETALS Association specialized in earlier presented a report on the proposal postponed cancelled export tax rebate policy, or to maintain the current export tax rebate policy of stability, it is not advisable to adjust too quickly, otherwise some exporters suffer heavy losses.

Liu Yi nan gives reasons: first, the financial crisis brought about by economic uncertainty and not dissipated; the second is like iron and steel products of the overcapacity problem structure hasn't straightened out.

At guosen securities steel and nonferrous metals industry Chief Analyst zhengdong, cancel the export tax rebate policy beyond market expectations, originally estimated even on export tax rebate policy adjustment, the deal would only reduce 3 ~ 4 percentage points, it will not be one step from 9% of the rebate rate was reduced to zero. "Both ends of the steel industry are uncertain, the above is the high cost, low-yield plus under the header is the inventory, to cancel the export tax rebate policy will cut the price advantage, on the second half of the steel and nonferrous metals industry will be worse. "

For this policy significance of the macro level, zhengdong analysis, cancel-consuming high pollution product export refund is the trend. From restructuring, zhengdong believes that China's ongoing efforts to accelerate the implementation of energy-saving emission reduction and established a low-carbon economy indicators, the main carbon emissions are concentrated in the iron and steel, nonferrous metals, cement, chemical industry and traditional manufacturing industry to achieve low-carbon targets, only remove the industry protection can be achieved. But in the industrialization process is not possible to cancel the traditional industries, to some extent also has a very important position. Therefore, faced with a dilemma to let an aspect of pay. From the industry perspective, every industry is subject to the company to profitability. Now the steel industry is facing a dilemma, upstream raw materials under the present dependence on more than 60%, downstream and export many low-end products. So, one side is the business to profitability, is the policy you want to adjust, in respect of the existence of the enterprise and policies of the game.

It is understood that the China iron and steel annual export volume accounts for about 10% of the total amount of the financial crisis, the export volume decline to around 5%. Customs statistics show that Chinese exports of steel products in 5 494 million tons, an increase of 2.7 times; steel, steel net exports equivalent crude steel net exports approximately 383 million tons, compared to a net import 102 million tons; 1 ~ 5, total exports of steel products in 1796 million tons, an increase of 127.3%.

CITIC Securities latest report pointed out that, in accordance with the first 4-cumulative calculation, the export tariff number approximately 590 involved varieties million tonnes, approximately 37 million, respectively, of total steel exports accounted for 37% and 46% of the total amount. (Daily economic news)