VI GB/T Standards for Recycling Iron-steel Materials to Take Effect Beginning in 2021

China published its GB/T Standards for Recycling Iron-steel Materials on 14th December, 2020, which will take effect on 1st January, 2021.

The Standard may help the country to explore recycling iron-steel materials at home and abroad, improve the circulation of products with iron content, and restrain the robust demand for iron ore products, one official told to SteelHome.

Related Info: Recycling Iron-steel Raw Materials' Standards (Draft Guideline)

VII China Iron Ore Imports Exceeded 1 Billion Tons for 5 Consecutive Years

In the first eleven months of 2020, China imported 1.073354 billion tonnes of iron ore, up 105.902 million tonnes or up 10.9 percent year-on-year, according to data released by General Administration of Customs. The annual import volume is expected to exceed 1.16 billion tons, a record high. So far, China iron ore imports has exceeded 1 billion tons for 5 consecutive years.

In January-November 2020, iron ore imports amounted to US$107.2 billion, a year-on-year increase of 16.2%. The average import price was 99.9 US dollars per tonne, an increase of 4.5 US dollars per tonne from the same period last year. SteelHome 62% imported iron ore price index has risen to 162.87 US dollars from 80.84 US dollars in early April this year, an increase of 101.5%.

VIII The 2020 Version of Production Restriction for Steel Mills during the Heavy-polluted Weather Is More Operational

In July 2020, the Ministry of Ecology and Environment issued the "Technical Guidelines for the Emergency Emission Reduction Measures for Key Industries in Heavy Pollution Weather (2020 Revised Edition)". Compared with the 2019 edition, the steel industry has more operability in terms of heavy pollution weather warning, environmental protection and production restriction.

In addition, the classification of iron and steel enterprises is more detailed. In the 2020 edition, enterprises are classified as tier A, tier B, tier C and tier D. However, the 2019 edition has no rating.

IX Global Production Capacity Cooperation Continued to Advance

Chinese steelmaker Jingye Group completed the acquisition of British Steel's business and assets in Britain and the Netherlands on March 9. The completion secures the future of approximately 3,200 jobs, said Jingye, pledging to invest 1.2 billion pounds (about 1.38 billion U.S. dollars) to place the business on a more competitive and sustainable footing…>>

Chinese steelmaker Delong Holdings said it has signed a letter of intent to lift the annual capacity of its steel project in Indonesia to 20 million tonnes – more than three times the volume the Southeast Asian country produced last year. Mineral-rich Indonesia has attracted billions of dollars of investment from top metals consumer China as it looks to position itself as a hub for steel and battery materials production…>>

X Ministry of Finance Raised Export Tax Rebate for Certain Steel Products

On March 17, 2020, the Ministry of Finance and the State Administration of Taxation issued the "Announcement on Increasing the Export Tax Rebate Rate of Certain Products", in which the export tax rebate rate of some steel products was increased from 10% to 13%. After adjustment, all steel products with tax rebates will implement 13% export tax rebate, which is effective from March 20, 2020.

Related Info: SteelHome: Brief Comment on China Steel Export Rebate Rate Adjustment