The China’s government considers levying export tariffs on hot rolling on August 15

The export of steel products in July was 5.669 million tons, a year-on-year increase of 35.8%. China’s government is considering imposing export tariffs on hot rolling coils on August 15. According to statistics from the General Administration of Customs of the People's Republic of China on August 7, China exported 5.669 million tons of hot rolling steel products in July 2021, an increase of 35.8% year-on-year; from January to July, China exported 43.05 million tons of steel products, an increase of 30.9% year-on-year. In July, China imported 1.049 million tons of steel, a year-on-year decrease of 59.7%. From January to July, China imported 8.397 million tons of steel, a year-on-year decrease of 15.6%. China steel exports have grown substantially, and the government is planning to start levying export tariffs on hot rolled products on August 15 at a rate of 10-15%.