China Move Depletes South Korea Rebar Inventories

KOFU, JAPAN--June 8, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Starting May 1, China has revived taxes on steel exports to reduce domestic crude steel production and to slow the growth of carbon emissions in the steel sector. The cancellation of steel export tax rebates in China resulted in a lack of rebar inventory in South Korea, and construction companies there are struggling to procure steel rebar.