Market chatter about China possibly imposing new export taxes for steel as part of commodity price cooling measures has been rampant in the past week, causing traders and market participants to re-think their trading strategies, and overseas buyers to consider a potential supply shortfall.
The taxes are supposed to take place from June 1, but there has been no official statement by China's Ministry of Finance so far and market participants are in disagreement about whether these taxes will come into force. Yet some sources say the rumors are growing stronger, which they take to be a sign the policies will be enacted.Fastmarkets' steel hot-rolled coil index export, fob main port...