Posted by al8800 > 2021-04-28 22:31 | Report Abuse

https://www.spglobal.com/platts/en/market-insights/latest-news/metals/042821-china-removes-vat-rebate-on-steel-exports-cuts-tax-on-raw-material-imports-to-zero#:~:text=10%3A56%20UTC-,China%20removes%20VAT%20rebate%20on%20steel%20exports%2C%20cuts%20tax,raw%20material%20imports%20to%20zero&text=Singapore%20%E2%80%94%20China%20has%20announced%20the,been%20widely%20anticipating%20since%20February.



METALS 28 Apr 2021 | 10:56 UTC Singapore
China removes VAT rebate on steel exports, cuts tax on raw material imports to zero

Singapore — China has announced the removal of VAT rebates on exports of 146 steel products from May 1, a move the market had been widely anticipating since February.

The rebate of 13% of the VAT charged on exports of hot rolled coil, wire rod and rebar will no longer apply from May, according to a statement on the finance ministry's website.

The move to discourage steel exports and loosen imports of steelmaking raw materials comes at a time when China's crude steel output in April reached the second-highest level in history, despite production cuts mandated in the steel hubs of Tangshan and Handan in Hebei province, and as prices of seaborne iron ore reached a record high.

..............

Steel price going to jump like kangaroo.

Posted by ming > 2021-04-28 23:39 | Report Abuse

Yea.. good for local steel company! Attack~

Posted by Ron90 > 2021-04-29 01:38 | Report Abuse

good la not fly yet..can accumulate..nx few days will jump..

Posted by damddyy42 > 2021-04-29 07:42 | Report Abuse

Good luck for those still holding

Posted by al8800 > 2021-04-29 15:30 | Report Abuse

A. HRC & Rebar
1. China 13% Tax Rebates to China Exporters to be cancelled on 01 May 2021 i.e.
a. HRC (esp. industrial & automotive use)
b. Rebar (esp. construction & projects use)

2. China Companies loosing 13% "additional" profit / increase cost into their products => when Export out of China & may limit exports.
- Benefits to Lion ? lets see.

3. HRC & Rebar => price is gaining momentum.

B. NOT for CRC product - China Exporters still can "dump" the products to overseas, as China Govt rebate / "give more money" 13% to support the China Exporters.

- Choooooose carefully who is doing CRC in Msia market.

Posted by Peter Laumy > 2021-04-29 15:35 | Report Abuse

Without local mega project hard to move

Posted by al8800 > 2021-04-29 17:07 | Report Abuse

Properties esp. affordable housing , Semicon Industries Projects , ECRL , Ports , Ship-buildings, Automotive Industries, Solar , O&G services , ........ many industries affected by commodities esp. steels. These are the "norm" mega routine projects.

Nowadays , when small / mid scale properties developments want to buy steel, is based on daily / weekly quotation.
NO more monthly quote. Demand > Supply.

Posted by Expertise > 2021-04-29 17:27 | Report Abuse

next tp 1.50 no problem

Posted by ming > 2021-04-29 23:31 | Report Abuse

This round china policy change.. will post big impact to global steel industry..

No more cheap steel.. at least for some time

Posted by Ron90 > 2021-04-30 09:11 | Report Abuse

Lion suda mengaum ..

Posted by al8800 > 2021-04-30 10:20 | Report Abuse

All steel counters go gaga ........ like 2020 gloves "craze" phenomena.


Note: Update (Current situation in China)
1. China many mega projects in stoppage mode as Rebar & HRC in short supply.
2. China Import for Rebar & HRC in high demand.
3. Competition for HRC and Rebar intense.
4. China steel mills is looking for JV with steel companies in overseas.
5. China Customers have tons of cash trying to get Rebar & HRC, but many China factories cannot meet demand.
- Many illegals mills being forced closed.
6. Winter period, many China projects need to stop, due to cold condition factors. Is a race against time to get hold steels supplies in urgency.

Lion did not "dispose" the steel factory in Labuan ..... lucky ?

Posted by bullmarket1628 > 2021-04-30 10:52 |

Post removed.Why?

Posted by ahbah > 2021-04-30 10:54 | Report Abuse

Steel sector coming now !

U got see it ?

Posted by ahbah > 2021-04-30 10:55 | Report Abuse

Masuk fast before U miss the boat$$$$ ?

Posted by ahbah > 2021-04-30 10:57 | Report Abuse

Just close eye n simply wallop any steel counter U like lah.

Posted by Ron90 > 2021-04-30 10:59 | Report Abuse

towards 1.00 !!

Posted by al8800 > 2021-04-30 11:08 | Report Abuse

Avoid simply buy steels counters, select counters that can produce
a. Rebar (for projects & construction)
b. Hot Coil Roll (industrial & autoimotive).

Lion is one of the 4 counters only that have mining , factory mills and export.

Posted by Expertise > 2021-04-30 11:16 | Report Abuse

1.50 coming

Posted by Ron90 > 2021-04-30 11:24 | Report Abuse

@al8800 Avoid simply buy steels counters, select counters that can produce
a. Rebar (for projects & construction)
b. Hot Coil Roll (industrial & autoimotive).

Lion is one of the 4 counters only that have mining , factory mills and export.
========
suggestion please..

Posted by Expertise > 2021-04-30 12:22 | Report Abuse

good show，next show touch 1.00

Posted by cactus81 > 2021-04-30 12:50 | Report Abuse

Ron, other than lion, which company produce HRC too?

Posted by iswara > 2021-04-30 12:56 | Report Abuse

Big countries need to implement big infra......
Big countries need to reduce carbon......
Big countries need to build others green energy instead fire plants
................

Posted by happyfish4ver > 2021-04-30 14:03 | Report Abuse

寻找外国合作伙伴

金狮集团指出，目前正与中国一家钢铁集团进行洽谈，事成后将成为集团高炉项目的外国合作伙伴。

Any update?

Posted by happyfish4ver > 2021-04-30 14:04 | Report Abuse

寻找外国合作伙伴

金狮集团指出，目前正与中国一家钢铁集团进行洽谈，事成后将成为集团高炉项目的外国合作伙伴。

any update?

Posted by ahbah > 2021-04-30 14:48 | Report Abuse

ALL ALL steel counters are coming NOW !

We all can still hit the bull eye even we close our eyes in the steel sector !

Posted by abc1212 > 2021-04-30 15:01 | Report Abuse

buy tashin faster better

Posted by abc1212 > 2021-04-30 15:02 | Report Abuse

insider told at least1 abovw

Posted by al8800 > 2021-04-30 16:21 | Report Abuse

Steel + Alum + Tin counters all experiencing supernova feelings esp. ......... coming weeks.

Posted by ahbah > 2021-04-30 16:29 | Report Abuse

All metal counters ... gold mine counter$$$ now !

Posted by kc5305 > 2021-04-30 18:52 | Report Abuse

China domestic demand on steel up. As such cheap steel from China will not be competing with local steel manufacturers. Good for all local steel companies. Can expect price to go up further. Huhu..

Posted by kc5305 > 2021-05-01 11:49 | Report Abuse

https://www.thestar.com.my/business/business-news/2021/04/30/rise-in-steel-prices-set-to-continue

Posted by Expertise > 2021-05-03 10:00 | Report Abuse

Lion roar

Posted by bullmarket1628 > 2021-05-03 10:07 |

Post removed.Why?

Posted by paperplane > 2021-05-03 10:12 | Report Abuse

all steel flying oh

Posted by ztzeal > 2021-05-03 12:28 | Report Abuse

fear selling. PKP coming.

Posted by Ron90 > 2021-05-03 16:16 | Report Abuse

expecting mco 3.0.. sea of red in Bursa except Steel counter.. but this one olso prone for correction.. sell all

Posted by cactus81 > 2021-05-04 11:39 | Report Abuse

Any idea why lion just moved up slightly?

Posted by Red1234 > 2021-05-04 11:53 | Report Abuse

because lion is old.. join others..masteel is good

Posted by Qwertyuiop > 2021-05-04 12:24 | Report Abuse

sorry, laggard is coming, when it comes, it comes big!

Posted by Godblessyou > 2021-05-04 12:38 | Report Abuse

A lion runs the fastest when he is hungry...

Posted by caonima > 2021-05-04 12:55 |

Post removed.Why?

Posted by siulong1 > 2021-05-04 13:02 | Report Abuse

lionind is the most laggard steel counter, why ah??

Posted by Qwertyuiop > 2021-05-04 13:12 | Report Abuse

Because lion is preparing for the hyper rally.

Posted by Red1234 > 2021-05-04 13:53 | Report Abuse

yah, change to others counter la.. this counter no show la.. please do not con people

Posted by Godblessyou > 2021-05-04 14:32 | Report Abuse

ROARRRRRRRRRRR

Posted by Peter Lau MY > 2021-05-04 14:33 | Report Abuse

Strong buy, shortly will challenge previous peak

Posted by ahbah > 2021-05-04 14:35 | Report Abuse

The lion roar$$$ !

Come n get it !

Posted by Expertise > 2021-05-04 14:36 | Report Abuse

new break 1 lai lor

Posted by gohuat888 > 2021-05-04 14:41 | Report Abuse

steel gogogogo infrastructure factory property 5gtower electrical car mrt ecrl rts solar shipping cargo all need gogogo

Posted by gohuat888 > 2021-05-04 14:41 | Report Abuse

hold till end of this year huat gao gao hahaha