Steel exporters look for other shoe to drop

Dec 29, 2006 | 01:12 PM | Hongmei Li

Concerns by Chinese steel exporters over possible export tax revisions haven't eased in spite of the exemption of steel exports from the most recent revision.

"I still suspect that the Chinese government will change steel export taxes soon, probably around the Chinese New Year," an exporter in Shanghai said.

Other market participants expressed similar views.

"A holiday season is usually a quiet period for exports, so the authorities may want to take the opportunity to make tax changes, thus minimizing the impact on market prices," a second steel exporter in northeast China said.....

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