Information about a new tax regime for imports of steel billet into China, to start on Saturday May 1, has added to the bullish sentiment among CIS billet exporters.
On Wednesday April 28, China's ministry of finance announced that, in order to better guarantee the supply of steel resources and promote the high-quality development of the domestic steel industry, the import tariff for certain steel products from origins outside the Association of South East Asian Nations (Asean), including square billet, will be reduced from the current 2% to zero."Both prices and volumes of billet...