International hot rolled steel plate reduces export tax rebate

2021-03-21

Brazil's crude steel output rose 3.8% year-on-year in February to 2.8 million tons.


Brazil's domestic steel sales in February totaled 1.9 million tons, up 20.9% year on year. The apparent consumption of steel in February was 2.1 million tons, up 24.5% year on year.

Brazil's steel export volume reached 766000 tons in February, up 2.1% year on year, and the export volume increased 35.5% year on year.


In the second month of this year, Brazil's steel imports totaled 334000 tons, up 123.5% year on year and 81.2% year on year.


In the first two months of 2021, Brazil's crude steel output reached 5.8 million tons, a year-on-year increase of 7.3%. From January to February, Brazil's domestic steel sales totaled 3.8 million tons, a year-on-year increase of 22.9%. From January to February, the apparent consumption of steel increased by 24.7% year on year to 4.3 million tons.


In addition, instant and conceptual news such as "hot rolled steel plate export tax rebate reduction", crude steel reduction of 20 million tons, "carbon peak in the 14th five year plan" and "construction drawing" determination of carbon neutralization work are flying all over the world. The news long short conversion and capital in and out rhythm are speeding up, and the market washing is intensifying, resulting in repeated fluctuations in the market.

As the weekend approached, the yield of US Treasury bonds rose sharply overnight, and the yield of 10-year Treasury bonds rose above 1.75%, the first time in 14 months. The global financial market was in turmoil, and the domestic commodity market was not spared. All black commodities closed green.


During the two rounds of high-level strategic dialogue between China and the United States from March 18 to 19, Yang Jiechi stressed that the United States is not qualified to speak with China from a high position. The Chinese people do not accept this. Judging from the current process, it is not ideal, leading to a slight rise in risk aversion in the capital market.


The fundamentals of the spot market of steel plate have not changed significantly, and they are basically coerced by the news and futures market, and have never been able to walk out of the independent market. But compared with the opening and closing of the futures market, the spot performance is relatively mild.