China crackdown on tax evasion to slow steel export volumes - sources

The crackdown on exports involving tax evasion in China in recent weeks may eradicate low-priced cargoes from the spot market and increase price expectations but weigh on the rate of steel exports of Chinese products, market participants told Fastmarkets.

A Chinese exporter source said this is because exporters who are evading tax will likely keep their activity to a minimum to avoid inspections and buyers may start to raise...

Published

Jessica Zong

Zihuan Pan

Nabilah Awang

November 23, 2023

10:08 GMT

Shanghai, Singapore