China will officially cancel export tax rebates for most steel products on April 15, with the exception of stainless steel plate and cold-rolled products that will have their export tax rebates reduced to 5%, according to a document jointly released today by the Ministry of Finance and the State Administration of Taxation.

Steel products in 83 tax codes, mainly hot-rolled coil and plate, rod, bar, H-shape steel and angle steel will have their export tax rebates cancelled from a current 8% on April 15. High-value-added steel products in 76 tax codes will have export tax rebates cut to 5%, including cold-rolled coil and sheet, galvanized sheet, tin coated sheet, hot-rolled stainless steel coil and plate, stainless steel strip and bar, oriented silicon steel plate and alloy steel plate.

The government has stressed that all companies must implement the new policy on April 15, export contracts signed before April 15 will NOT be exempt from the new policy.

China's steel product exports increased 118.4% to 14.13 million tonnes in the first quarter of the year, according to statistics released by the General Customs Administration today.

China exported 5.38 tonnes of steel products in March, up 22.8% from February and slightly lower than the record 5.55 million tonnes exported last December.

China's steel product exports increased 118.4% to 14.13 million tonnes in the first quarter of this year, according to statistics released by the General Customs Administration today.

China exported 5.38 tonnes of steel products in March, up 22.8% from February and slightly lower than the record 5.55 million tonnes exported last December.

China's net export of steel products reached 9.86 million tonnes in the first quarter of the year.

China imported 100.19 million tonnes of iron ore in the first three months of the year, up 23.4% from last year, mainly driven by a high demand from steel mills after the Spring Festival. Iron ore imports stood at 35.62 million tonnes in March, up 23.94% month-on-month.

China exported 3.65 million tonnes of coke from January to March 2007, up 19.8%, while slab exports increased 98% to 1.78 million tonnes.