China & Russia's export taxes stimulate stainless steel price growth in Taiwan
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Update time : 2021-07-05 20:11:23
After Taiwan's upstream steel mills raised their prices, the stainless steel market prices rose accordingly. Market participants pointed out that it mainly caused by the increase in export taxes of China and Russia.
In China, the export tax rebate has been abolished previously. Although the date for subsequent export tax increases has not yet been set, it has a high probability. As for Russia, it has been determined that for a period of 5 months from August 1, all metals and steel products will be levied at least 15% export tariffs.
Market participants said that even though Taiwan’s domestic demand is sluggish, steel mills' export orders are still good. Coupled with the levy of export taxes by China and Russia, the market outlook is bullish, and the stainless steel market was expected to remain stable after rising.
