Скачать или смотреть Chinese SS market remain bearish. India imposes duty on steel export.

Chinese domestic stainless steel market has been bearish for more than one month due to the pandemics and the lasting quarantines. The stainless steel prices of last week mostly dropped though steel mills have tried to boost the prices and trading by announcing to reduce the output in May and June.

One of the reasons is that the stainless steel spot inventory keeps increasing because the demand is too tepid.
The stainless steel market is facing challenges globally.
Not to mention the war, on May 22, India imposes a duty on some steel and ore exports including stainless steel and it takes into effect on the same day, hoping to curb the wild commodity prices and inflation.

This undoubtedly gives a strike on many buyers' heads as India is one of the largest exporters in the world. Dheli's action is similar to what Beijing did last year which also happened in May —— the export tax rebate rate on some steel products was reduced to ZERO.


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