Published: April 29th, 2021,
Last updated: June 22nd, 2022
Beijing has announced that it will cut import taxes on materials used to make steel products. Import duties on raw iron, steel scrap, and semi-finished products will be eliminated as early as May 1, the Ministry of Finance announced yesterday on its website. Beijing wants to use the resulting market pressure to force Chinese producers to shrink and become more energy-efficient and profitable.